In 2023, the import value of lac, natural gums, resins, gum-resins, and balsams to India was recorded at a notable level. The forecasted data for 2024-2028 indicates a gradual annual increase, highlighted by year-on-year growth rates: 3.68% for 2025, 3.48% for 2026, 3.30% for 2027, and 3.13% for 2028. The compound annual growth rate (CAGR) from 2024 to 2028 stands at 3.38%, reflecting steady growth in this sector.
Future trends to watch for include:
- Fluctuations in global prices due to supply chain dynamics.
- Potential shifts toward synthetic alternatives impacting natural resin demand.
- Environmental policies affecting natural resource imports.
