In 2023, India's import of platinum stood at 275.80 million USD. The forecast from 2024 to 2028 shows a gradual decline in imports, with values decreasing annually from 274.56 million USD in 2024 to 268.93 million USD in 2028. This trend highlights a slight but consistent year-on-year decrease in import value, with a compound annual growth rate (CAGR) showing a modest downward trend over the five-year period.
Future trends to watch for:
- Fluctuations in global platinum prices.
- Domestic demand changes, particularly from the automotive and jewelry sectors.
- India's policy shifts affecting precious metal imports.
- Technological advancements in platinum recycling and usage.
