The import of raw silk to India is projected to gradually decline from 2024, with forecasts showing a decrease from $159.35 million in 2024 to $157.63 million by 2028. Over the last two years, the trend reveals a steady decrease, suggesting diminishing demand or increased domestic production. The year-on-year percentage changes reveal a minimal decrease of just over 0.25% annually. Over the last five years, the CAGR illustrates a slight negative growth trend, pointing towards a modest decline in importation activities.
Future trends to watch for include shifts in global silk production, changes in domestic manufacturing capacities, and evolving fashion industry preferences which might impact raw silk demand. Additionally, trade agreements and global market conditions could further influence import dynamics.
