The import value of watch straps and parts of base metal to India was approximately 6.8 million USD in 2023. Starting in 2024, the forecast shows a gradual decline, with the value decreasing incrementally each year, reaching approximately 6.311 million USD by 2028. This reflects a steady decrease, with average annual changes ranging from -0.87% to -0.98% over this period.

Future trends to watch for:

Monitor shifts in consumer preferences towards digital or smart wearables, which may impact traditional watch component imports.
Assess the impact of domestic manufacturing initiatives, which might further reduce dependency on imports.
Consider the influence of global trade dynamics and tariff policies affecting the cost and volume of imports.
Evaluate currency fluctuations and economic factors which could alter market dynamics in the medium term.