The forecast for the import of rough clock movements, unassembled or partly assembled, to India indicates a steady upward trend. In 2023, the actual imports stood at $4.69 million. The projections for the years 2024 through 2028 show a consistent year-on-year growth with values forecasted to reach $5.65 million by 2028. Between 2024 and 2025, a growth of 4.15% is expected, followed by 3.91% in subsequent years, suggesting a consistent rise. The compound annual growth rate (CAGR) over the five-year period stands at approximately 3.79%.
Future trends to watch for include:
- Potential impact of technological advancements in clock-making on demand for imports.
- Influence of global trade policies and tariffs on import costs.
- Emergence of local manufacturing capabilities in India that could affect import volumes.
- Shifts in consumer preferences towards digital over analog clocks.
