The import of slide fasteners with chain scoops of base metal to India is forecasted to rise consistently from $27.23 million in 2024 to $30.787 million in 2028. This indicates a steady year-on-year growth over this period. The Compound Annual Growth Rate (CAGR) for 2024-2028 is projected to be around 3.13%. As of 2023, actual imports stood at $26.392 million, reflecting the growing demand and reliance on imported fasteners.
Future trends to watch for include:
- Potential impact of economic or trade policy changes on import tariffs and trade agreements.
- Technological advancements in manufacturing that may affect domestic production capabilities and import reliance.
- Market demand shifts driven by growth in industries such as apparel and automotive, which extensively use these fasteners.