The forecasted import value of iron or steel threaded articles to India, excluding screws, nuts, and bolts, shows a consistent upward trend from 2024 to 2028, starting at $80.205 million and reaching $88.5 million by 2028. The year-on-year growth rate from 2024 to 2028 averages around 2.75%, reflecting a steady increase in imports.
In 2023, the actual import value stood slightly below $80 million, indicating a healthy demand and a positive market outlook for these products. The compound annual growth rate (CAGR) over this five-year period suggests a robust annual growth trajectory.
Future trends to watch for include potential changes in domestic manufacturing capacities, government policies impacting import tariffs, and the global supply chain dynamics for iron and steel products which could influence import patterns.
