Footwear exports to double in two years, feels industry
30 Apr 2010
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With the global economies recovering from the slowdown, India's footwear exports are expected to more than double to $3.37 billion (about Rs14, 828 crore) in the next two years over the 2008-09 period, according to an industry body.
The Indian footwear industry, the second-largest in the world after China, is growing at a rate of about 10 per cent annually, the president of the Indian Footwear Components Manufacturers Association B D Bhaiya told reporters in New Delhi.
The industry is organising a three-day footwear, materials, manufacturing and technology fair at Greater Noida near Delhi from 7-9 May.
"Apart from growth in the domestic sector, we have also set a target of $3.37 billion in exports of footwear alone by 2013-14," Bhaiya said.
In 2008-09, footwear exports from India were worth $1.53 billion. Of the total exports of leather and leather products, the segment contributes over 40 per cent. Several international brands like Nike, Addidas and Reebok source footwear from the $5 billion domestic industry.
India currently produces about 2.06 billion pairs of shoes in different categories. Per capita consumption of footwear in the country has also increased to two pairs from a mere 0.5 pairs a decade ago.
"With the quality and price competitiveness that has been proved, I am confident that India will fast become a major player in the global footwear market, as more and more companies are shifting their sourcing needs as well as production basis towards us," Bhaiya said.
The country's major export markets are the US and Europe. India allows 100 per cent foreign direct investment in the sector. Companies like Formas Kunz (Brazil), Feng Tay Enterprises (Taiwan) and Apache Footwear (China) have set production basis in India, he said.
The Indian footwear industry, the second-largest in the world after China, is growing at a rate of about 10 per cent annually, the president of the Indian Footwear Components Manufacturers Association B D Bhaiya told reporters in New Delhi.
The industry is organising a three-day footwear, materials, manufacturing and technology fair at Greater Noida near Delhi from 7-9 May.
"Apart from growth in the domestic sector, we have also set a target of $3.37 billion in exports of footwear alone by 2013-14," Bhaiya said.
In 2008-09, footwear exports from India were worth $1.53 billion. Of the total exports of leather and leather products, the segment contributes over 40 per cent. Several international brands like Nike, Addidas and Reebok source footwear from the $5 billion domestic industry.
India currently produces about 2.06 billion pairs of shoes in different categories. Per capita consumption of footwear in the country has also increased to two pairs from a mere 0.5 pairs a decade ago.
"With the quality and price competitiveness that has been proved, I am confident that India will fast become a major player in the global footwear market, as more and more companies are shifting their sourcing needs as well as production basis towards us," Bhaiya said.
The country's major export markets are the US and Europe. India allows 100 per cent foreign direct investment in the sector. Companies like Formas Kunz (Brazil), Feng Tay Enterprises (Taiwan) and Apache Footwear (China) have set production basis in India, he said.
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