The import volume of bells and gongs made of base metal to India shows a forecasted steady increase from 2024 to 2028. In 2023, imports stood at 338.0 thousand kilograms. The forecasted data indicates a year-on-year growth rate of approximately 4.6% in 2025, 4.2% in 2026, 3.9% in 2027, and 3.7% in 2028. Over the five-year forecast period, the compound annual growth rate (CAGR) is approximately 4.1%.
Future trends to watch for include:
- Potential fluctuations in demand due to changing cultural practices or product innovation in musical instruments.
- Impact of trade policies and tariffs affecting import costs and volume trends.
- Improvement in local production capabilities which might affect import dependence.
