As of 2023, the import value of jute to India was approximately 42.92 million USD. Forecasted figures show a gradual decline in imports from 42.701 million USD in 2024 to 41.856 million USD in 2028. The year-on-year percentage decrease is minor but steady, indicating a preference towards reducing reliance on jute imports.
Trends indicate a continuous minor decline over the five-year period, reflecting a Compound Annual Growth Rate (CAGR) that underscores a slight annual decrease.
Future trends to watch for:
- Potential increase in domestic jute production could further reduce import dependency.
- Global economic shifts or trade policies might impact import prices and volumes.
- Technological advancements in synthetic alternatives may affect jute's demand.
- Environmental policies favoring biodegradable materials like jute may influence import patterns.
