The import of synthetic staple fibres to India has seen fluctuations between 2013 and 2023. The value stood at 238.21 Million USD in 2023, reflecting a 3.46% year-on-year increase. Observing recent trends, there's been a steady growth, with the last five years showing a CAGR of 3.25%. The forecast from 2024 to 2028 predicts a 2.53% CAGR, contributing to a 13.32% total growth in this period.
Future trends to watch for include:
- Advancements in textile technology influencing demand for synthetic fibres.
- Shifts in global trade policies impacting import dynamics.
- Environmental regulations pushing for sustainable alternatives in the textile industry.