In 2023, the import value of clocks, watches, and parts thereof to India stood at an actual figure. Forecasting the upcoming years, the expected value for 2024 is 447.76 million USD, growing incrementally to 506.0 million USD by 2028. The year-on-year growth highlights a steady increase: from 2024 to 2025, the growth is 3.35%, from 2025 to 2026 it is 3.17%, from 2026 to 2027 it is 3.02%, and from 2027 to 2028 it is 2.87%. The five-year compound annual growth rate (CAGR) from 2024 to 2028 averages an annual growth rate of approximately 3.1%.
Future trends to watch for include the rising demand for luxury and technologically advanced timepieces, the influence of changing fashion trends, and potential shifts in consumer preferences towards smartwatches. Additionally, disruptions in global supply chains and tariff policies could impact import levels and pricing strategies in the coming years.
