In 2023, India's import of machinery for leather and skin goods making, except sewing, stands as a crucial component of the industry's supply chain. Forecasts from 2024 to 2028 indicate a consistent downward trend in import volumes, with an initial value of 316.24 thousand kilograms in 2024, declining to 197.67 thousand kilograms by 2028. The year-on-year percentage variations reflect this sharp decline, highlighting a significant shift in the import landscape.
Future trends to watch for include:
- Potential shifts in domestic manufacturing capabilities.
- Technological advancements that could reduce dependency on imports.
- Economic policies impacting import duties or incentives for local production.
