The forecast for the import of iron or non-alloy steel bar and rod indented or twisted to India shows a consistent upward trend from 2024 to 2028, starting at 125.94 million USD and reaching 148.92 million USD. In 2023, the actual import value stood at 119.50 million USD. The data indicates a stable year-on-year growth rate: 4.7% from 2024 to 2025, 4.4% from 2025 to 2026, 4.1% from 2026 to 2027, and 3.9% from 2027 to 2028. The forecast reveals a Compound Annual Growth Rate (CAGR) of approximately 4.3% for the period 2024-2028.
Future trends to watch for include:
- The impact of global steel market dynamics on import prices and volumes.
- India’s domestic production capacity and its effect on import reliance.
- Government policies and infrastructure development projects influencing demand.
- Technological advancements and environmental regulations affecting supply chains.
