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Indian footwear industry aims to reach 26 billion USD by 2030

Jan 2, 2025 India

The Indian footwear industry is targeting a market size of 26 billion USD by 2030, including 8 billion USD in export revenues. The footwear components segment is expected to be key in achieving this goal

According to local media, India’s footwear sector is expected to reach a turnover of 26 billion US dollars by 2030, including exports of 8 billion US dollars. Currently, both leather and non-leather footwear sales are estimated at 18 billion US dollars, including 6 billion US dollars in exports.

In particular, the country will rely on the implementation of footwear standards set by the Bureau of Indian Standards (BIS), effective from April 2025, to improve quality and increase local manufacturing capacity.

Speaking at the ShoeTech 2024 exhibition in Mumbai, Sanjay Gupta, President of the Indian Footwear Components Manufacturers Association (IFCOMA), also announced that India will introduce specific sizes to move away from the UK and US standards, allowing Indian consumers to get a better fit.

“The 32 components that go into making a shoe play a vital role in achieving this target. All these components need to be manufactured in India and with the help of the government, it has been taken up in a big way”, emphasised Gupta.

By 2028, the footwear component sector is expected to meet 50% of total domestic demand. Gupta said that the government is promoting the creation of 10,000 micro and small component suppliers and boosting research and development to encourage innovation, as well as enhancing skill development.

Indian Footwear Industry

According to the World Footwear 2024 Yearbook (more information available HERE), India’s footwear industry is the second-largest in the world. While primarily serving its vast domestic market, India maintains a stable export volume of around 250 million pairs annually. The United States and major European markets are the main destinations for Indian footwear exports.

Image Credits: Gajendra Yadav on Unsplash

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