The Indian footwear industry is stepping into a new era of growth and innovation, setting ambitious targets to achieve a market size of $26 billion by 2030. This includes a significant $8 billion in exports, underscoring the sector’s drive to establish itself as a global leader.
With the support of the Union Commerce Ministry, the industry is focusing on enhancing technology, developing crucial components, and achieving self-sufficiency in shoe manufacturing.
Presently, the Indian footwear market, spanning both leather and non-leather segments, is valued at $18 billion, with $6 billion attributed to exports.
Sanjay Gupta, President of the Indian Footwear Components Manufacturers Association (IFCOMA), highlighted the importance of localizing the production of footwear components. Speaking at the ShoeTech 2024 exhibition in Mumbai, he stated,
“The 32 components that go into making a shoe are vital to achieving our target. Manufacturing these components in India is being pursued rigorously with government support.”
Sanjay Gupta, President (IFCOMA)
Under the directives of the Prime Minister and the Ministry of Commerce and Industry, the footwear component sector aims to cater to 50% of the total domestic footwear production by 2028.
Gupta added that the initiative also plans to onboard 10,000 new component suppliers in the micro and small enterprise categories, further boosting the supply chain.
To maintain high standards, the Bureau of Indian Standards (BIS) will enforce regulations on all shoes starting in April 2025. This move is expected to elevate product quality and ensure compliance across the sector.
The government’s initiatives, including the Production Linked Incentive (PLI) scheme, are paving the way for micro, small, and medium enterprises (MSMEs) to thrive. These measures are also enhancing research and development (R&D) and innovation within the industry
Additionally, India will introduce its own standard for shoe sizes, moving away from UK and US sizing systems. Shoes in Indian sizes will also be available from April 2025, marking another significant milestone.
The original article was published by The Hindu
