The import of rough movements of watches to India has shown a declining trend from 2023 onwards. In 2023, the import value stood at an estimate that remains unchanged from the initial two projection years. Notably, the year-on-year decline from 2024 to 2025 is 9.6%, and from 2025 to 2026 is 10.6%. Moving forward, the CAGR over the five-year period from 2024 to 2028 is expected to be approximately -10.4%, indicating a continuous reduction in import values.
Future trends to watch for include potential changes in consumer preferences favoring domestic watch production, shifts in trade policies impacting imports, and possible technological advances in watch manufacturing that could reduce reliance on imported components. Additionally, the overall economic environment in India and its watch industry growth could influence these imports significantly.
