The forecast for the import of jewellery and parts of precious metal, excluding silver, to India shows a consistent downward trend from 2024 to 2028. Starting at $493.35 million in 2024, the value is expected to decline steadily to $427.16 million by 2028. Given the decrease from $493.35 million in 2024 to $476.3 million in 2025, this marks a 3.45% year-on-year decline. The trend continues with a 3.52% drop from 2025 to 2026, followed by reductions of about 3.56% in subsequent years. Consequently, the compound annual growth rate (CAGR) over these five years is forecasted to be negative.
Future trends to monitor include economic developments in India's jewellery sector, potential trade policy changes that may affect import tariffs, and fluctuations in currency exchange rates which could impact import costs. Moreover, ongoing demands in the domestic market and shifts in consumer preferences toward luxury goods might also influence these import trends.
