As of 2023, the import of articles of precious, semi-precious, and artificial stones to India stood at 9.843 million USD. Forecasted data projects a steady increase in import value from 2024 to 2028, with an annual growth rate ranging between 5-6%. Specifically, the imports are expected to rise from 10.468 million USD in 2024 to 12.871 million USD by 2028. The compound annual growth rate (CAGR) over this five-year period is approximately 5.2%, indicating a stable upward trend in import activity.
Future trends to watch for include:
- Fluctuations in global stone supply, impacting prices and import volumes.
- Potential changes in trade policies and tariffs affecting import cost structures.
- Technological advancements in synthetic stones that might influence market demand.
