In 2023, the import value of knitted or crocheted men's and boys' jackets and blazers of wool or fine animal hair to India stood at a level indicative of ongoing growth. From 2024 onwards, a steady annual increase is forecasted, culminating in a 5.48% growth by 2028. An initial year-on-year increment of 5.01% is projected from 2024 to 2025, followed by additional consistent annual increases leading to a compound annual growth rate (CAGR) of approximately 5.08% over the five-year forecast period.
Future trends to watch for include:
- Changes in fashion preferences and their impact on import volumes.
- Fluctuations in global wool or fine animal hair prices.
- Trade policy shifts impacting import tariffs or duties.
- Economic growth rates and their influence on demand for luxury apparel.
