In 2023, the value of imported aluminium wire, cables, and steel core to India stood at 4.3 million USD. Forecast data indicates a steady increase in the import value from 2024 to 2028, with estimated figures of 4.5046 million USD in 2024 and reaching 5.3136 million USD by 2028. This represents a year-on-year growth of approximately 4.6% to 5% annually. Over the five-year span, the compound annual growth rate (CAGR) is predicted to be around 4.23%.
Future trends to watch for:
- Potential impact of global supply chain dynamics and raw material availability.
- Developments in India’s domestic wire and cable manufacturing capacity.
- Technological advancements in aluminium and steel-based product alternatives.
