The projected import of machinery for the preparation, tanning, and working of hides, skins, and leather to India is set to see a steady increase from 2024 to 2028, starting at 2.65 and growing to 3.12 thousand units. This represents a compound annual growth rate (CAGR) of approximately 4% over this period. In 2023, the value stood at 2.54 thousand units, indicating a positive upward trend in demand for such machinery.
Key future trends to watch for include:
- Technological advancements influencing machinery efficiency and output.
- Fluctuations in global leather demand impacting import volumes.
- Trade policies and tariffs affecting import costs and decisions.
- Sustainability initiatives pushing for eco-friendly processing equipment.
