The forecasted import values of hand-wound wrist watches with cases of precious metal or metal clad with precious metal to India show a consistent declining trend from 2024 to 2028. Starting at 7.9179 million USD in 2024, the imports decrease by an average of approximately 2.3% year-on-year.
Comparatively, in 2023, the imports stood around this projected value, suggesting a gradual contraction in the market. The cumulative annual growth rate (CAGR) over the five years reflects a downward tendency in consumer preferences or market dynamics.
Future trends to watch for:
- Shifts in consumer preferences towards digital or smart watches.
- Changes in import tariffs or trade policies affecting luxury goods.
- Potential growth in the local production of luxury watches.
- Fluctuations in global precious metal prices impacting costs and imports.
