The forecast for the import of knitted or crocheted gloves, mittens or mitts of cotton to India from 2024 to 2028 shows a gradual decrease in volume. In 2023, the import stood at 123.15 thousand kilograms. From 2024, the trend gradually decreases, with a slight reduction in volume each year, revealing a consistent year-on-year decline of approximately 0.4%. Over five years, the compound annual growth rate (CAGR) is negative, indicating a minor annual decline.
Future trends to observe:
- Potential shifts in consumer preferences towards other materials or alternatives reducing demand.
- Impact of trade regulations or tariffs that may influence import costs and volumes.
- Technological advancements in local manufacturing that could satisfy domestic demand.