The import of electrical and electronic equipment to India has seen substantial growth from $29.366 billion in 2013 to $62.395 billion in 2023. Despite a drop in 2020 due to global disruptions, the market quickly rebounded with a 25.8% increase in 2021. By 2023, imports reached a value of $62.395 billion, with a year-on-year variation of 3.9%.

Looking back over the last five years, from 2019 to 2023, the compound annual growth rate (CAGR) averaged at 3.73%. As we transition to forecasted data from 2024 onwards, the CAGR is expected to settle at 2.81%, reflecting a moderate but steady growth rate, arriving at an estimated $74.626 billion by 2028 – demonstrating an overall forecasted five-year growth rate of 14.87%.

Future trends to watch for:

The impact of technological advancements and automation on import volumes.
Shifts in trade policies and their influence on import patterns.
The rising demand within India's burgeoning tech industry.
Increasing sustainability practices influencing electronic equipment preferences.