The import of knit or crochet fabric of manmade fibers to India stood at 302.94 million USD in 2023. Over the years from 2013 to 2023, the imports exhibited varying trends. Key highlights include significant growth in 2014 (14.47%) and 2017 (32.67%), followed by periods of decline, most notably in 2018 (-20.03%) and 2020 (-12.96%). In recent years, the trend has stabilized with a consistent upward movement, reflecting a year-on-year growth of 4.01% in 2023. The forecast for the next five years indicates a moderate CAGR of 2.88%, projecting an overall growth rate of 15.25% by 2028.
Future trends to watch for:
- Impact of international trade policies and tariffs on import volumes
- Technological advancements in synthetic fibers influencing demand
- Shifts in global supply chains and potential disruptions
- Changes in consumer preferences towards sustainable and eco-friendly textiles
