In 2023, the import value of knitted or crocheted women's and girls' skirts made of wool or fine animal hair to India stood at a level significantly higher than the forecasted values for 2024 and beyond, demonstrating a marked downward trend. From 2024 to 2028, there's a clear year-on-year decrease in imports, indicating a consistent reduction in demand or shifting market dynamics. The Compound Annual Growth Rate (CAGR) over these five years highlights an average annual decline, reflecting potential shifts in consumer preferences, local production increase, or economic factors affecting imports.
• 2024 to 2025 forecast indicates a decline, suggesting reduced interest in these imports.
• 2025 to 2026 continues the downward trend, signifying ongoing market adjustments.
• 2026 to 2027 and then to 2028, the decline steepens, hinting at an acceleration in the shrinking of this specific import segment.
Future trends to watch for include changes in consumer fashion preferences, the impact of local manufacturers gaining market share, potential trade policies affecting imports, and economic conditions that may alter purchasing power or import feasibility.
