In 2024, the forecast for the import of machinery for leather and skin goods making (excluding sewing) to India is anticipated to begin its upward trend from 7.4 thousand. This follows a steady increase predicted through to 2028, where imports are expected to reach 8.19 thousand. If we examine the year-on-year growth rates, a consistent slight annual increase of approximately 2.7% is projected. Over the five-year forecast period, this reflects a compound annual growth rate (CAGR) of about 2.5%.
Future trends to watch for include potential impacts from advancements in leather technology, changes in global trade policies, and shifts in the domestic demand for leather goods. Keeping an eye on these factors will provide insights into the stability and direction of the import market for these specialized machines in India.
