The forecast for India's import of worked precious and semi-precious stones shows a steady upward trend from 2024 to 2028, starting at $280.27 million in 2024 and reaching $339.19 million by 2028. This represents a consistent year-on-year growth and suggests robust demand. In 2023, actual imports were $265 million, indicating a healthy market that is expected to enhance further. Year-on-year growth rates hover around 5-6%, showing substantial momentum in this sector. The compound annual growth rate (CAGR) over these five years is approximately 5.5%, reflecting moderate yet stable increases in value.
Future trends to watch include potential impacts from global trade dynamics, currency fluctuations, and any new trade agreements. Additionally, demand shifts influenced by consumer preferences or technological advancements in jewelry production could also affect import volumes. Particular attention should be given to geopolitical situations that might impact the cost or availability of such stones.
