The import of made-up fishing nets of manmade textile materials to India is projected to increase steadily from 2024 to 2028, reaching 3.6127 million kilograms by 2028. In 2023, the import volume was below the starting forecast value in 2024, indicating a consistent upward trend. The year-on-year growth rate from 2024 to 2025 is approximately 4.05%, while the cumulative average growth rate (CAGR) over the five-year period is around 3.7% per annum.
Future trends to watch for include:
- Technological advancements in textile materials that might affect import demands.
- Changing regulations around sustainable fishing practices that could influence market needs.
- Economic factors influencing the pricing dynamics of imported fishing nets.
- Competitive moves from local manufacturers impacting imports.
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