The import of motorboats, excluding outboard motorboats, to India showed a steady declining trend from 2024 to 2028. Starting at 9.6 in 2024, it decreased annually by about 4-5% each year, ending at 8 in 2028. Compared to 2023, where the imports stood at a larger volume, a notable year-on-year decrease is projected. The compound annual growth rate (CAGR) over these five years is negative, illustrating a consistent decrease in imports by an average rate annually.
Looking forward, trends to watch for include potential changes in import policies, economic shifts that might impact luxury spending, and innovations or market shifts within the domestic motorboat industry which could either substitute imports or fuel further decline.
