In 2023, the import value of unassembled or partly assembled complete movements of watches to India stood at approximately 3.19 million US dollars. Forecast for this import item shows a steady increase from 2024 to 2028, with values projected to rise gradually each year. Specifically, the year-on-year percentage increase is around 1.6% to 1.8%. The compound annual growth rate (CAGR) over this five-year period is estimated at around 1.6%, reflecting a consistent upward trend.
Future trends to watch for in this market include a potential shift in consumer preferences toward more sophisticated or technologically advanced watch movements. Additionally, changes in trade policies and tariffs could impact import costs, influencing market dynamics. Monitoring the rise of smartwatches and their effect on traditional watch imports may also be critical for future forecasting.
