The import of nuts of iron or steel to India stood at $177.21 million in 2023. Forecasts for 2024 to 2028 predict a consistent annual increase in imports. Specifically, the expected values are $183.63 million in 2024, $190.22 million in 2025, $196.66 million in 2026, $202.99 million in 2027, and $209.18 million in 2028.
Year-on-year variations indicate a steady growth:
- From 2023 to 2024: +3.62%
- From 2024 to 2025: +3.59%
- From 2025 to 2026: +3.39%
- From 2026 to 2027: +3.22%
- From 2027 to 2028: +3.06%
Looking over a longer period, the compound annual growth rate (CAGR) from 2023 to 2028 is approximately 3.38%.
Future trends to watch for include potential shifts in global steel prices, advancements in manufacturing technologies, and changes in domestic production capabilities in India. Geopolitical factors and trade policies could also significantly influence import dynamics.