The forecast for the import of knitted or crocheted women's and girls' jackets and blazers of wool or fine animal hair to India shows a declining trend from 2024 to 2028, with the value reducing from $12,140 in 2024 to $8,610 by 2028. Assuming the import value was higher in 2023 than in 2024, this indicates a consistent decrease year-on-year. The percentage reduction each year is approximately as follows: 2024-2025 decreases by 7.5%, 2025-2026 decreases by 7.9%, 2026-2027 decreases by 8.5%, and 2027-2028 decreases by 9%. The compound annual growth rate (CAGR) over these five years shows an average yearly decline.
Future trends to watch for include shifts in consumer preferences, the impact of domestic wool production, and trade policies affecting imports. Monitoring these factors could provide insights into the sustainability of this declining trend and any potential rebound or acceleration of import reductions.
