The forecast for the import of rare-earth metals, scandium, and yttrium to India indicates a consistent upward trajectory from 2024 to 2028, showing increasing import values expressed in thousand kilograms. From 2023, which marked a baseline, the year-on-year growth from 2024 is projected to rise progressively each year. Over the five-year forecast period, the compound annual growth rate (CAGR) demonstrates a steady average annual increase.
Future trends to watch include:
- Potential policy changes in India regarding import tariffs or local production capabilities.
- Global market fluctuations affecting the availability and price of rare-earth metals.
- Technological advancements increasing or decreasing demand within India.
- Environmental and geopolitical factors impacting the rare-earth metals supply chain.
