The import of non-petroleum based lubricating oil to India has been forecasted to decline from 2024 to 2028. Starting at approximately 20.047 million kilograms in 2024, the volume is expected to drop steadily by 2028. In 2023, the import stood at similar levels, indicating a downward trend over the forecast period. Year-on-year variations from 2024 to 2028 indicate a consistent decline each year, reflecting an ongoing reduction in import volume.
Future trends to watch for include:
- Technological advancements leading to increased domestic production.
- Shifts towards more sustainable or alternative materials reducing import needs.
- Potential policy changes impacting trade dynamics and import tariffs.
