The import of iron or steel cloth, grill, fencing, and expanded metal to India is projected to rise from $59.889 million in 2024 to $69.153 million by 2028. This indicates a steady growth trajectory. Prior to 2024, in 2023, the imports were valued lower, showing a consistent upward trend in value. Year-on-year analysis from 2024 onwards demonstrates an average increase of around 3.5% annually, which aligns with the historical pattern of demand for these materials. Over the five-year period, the compound annual growth rate (CAGR) is approximately 3.5%.
Future trends to watch for include the impact of infrastructure development initiatives in India that could further increase demand for iron and steel products. Additionally, global steel price fluctuations and trade policies might significantly influence import volumes and value going forward.
