Trade

Indian's leather footwear exports grew by 32%

Dec 29, 2022 India

From April to October 2022, India's leather footwear exports rose by 32%, year-over-year, reaching 1.46 billion USD. This segment represented about 45% of total India's leather exports

According to the Indian Council for Leather Export (CLE), in the first seven months of the current fiscal year*, the country's overall leather exports amounted to 3.2 billion US dollars, growing by 20.9%, on a comparable basis to the revenue of 2.67 billion US dollars recorded in the same period of last year.

As of October, Indian leather footwear exports generated 1.46 billion US dollars, which reflects an increase of 32.3%, as compared to the 1.10 billion US dollars recorded in a similar period of the prior fiscal year. The segment represented roughly 45% of the total value exported by the leather industry. Additionally, the non-leather footwear segment also performed well in these seven months, with its exports rising by 76.7% to 173.7 million US dollars, year-over-year.

The data also shows that from April to October 2022, leather goods exports totalled 804.8 million US dollars, up by 13.7%, leather garments exports reached 221.5 million US dollars, up by 8.9%, and footwear components exports added 169.6 million US dollars to the total value generated, up by 20.7%, on a comparable basis to the same period of the previous fiscal year.

In this period, only finished leather and saddlery and harness shipments have decreased. Finished leather exports were down by 2.51% (totalling 256.9 million US dollars), while saddlery and harness exports declined by 6.6% (amounting to 148.1 million US dollars), as compared to the first seven months of the last fiscal year.

Indian footwear industry

According to the World Footwear 2022 Yearbook (more information available HERE), India is the world's 2^ndleading producer and consumer of footwear. Despite its industry being largely focused on the domestic market, India is also the world's 6^th largest exporter of footwear in terms of quantity and the 11^thin terms of value. In 2021 exports increased by 23%, but this growth was not yet sufficient to offset the fall of the previous year.

*Indian fiscal year runs from April through March.

Image Credits: maritimemanual.com

India Exports Footwear International Trade Leather