India Footwear Market

India's booming footwear market is now estimated to be worth us$ 6.5 billion and is on track to become the world's third largest footwear market by 2020. the industry has been performing well since 2014, with sales growing at a cagr of 9.4%. indian footwear industry is highly fragmented with small and medium enterprises (smes) being majority stakeholders. the rising levels of disposable income, increased brand awareness and an ever-growing population have all contributed to the strong growth of the sector. the recent 'make in india' campaign has resulted in a substantial increase in the number of imports from countries like china, vietnam, indonesia, brazil and mexico. this has enabled indian manufacturers to adopt innovative technologies for manufacturing high-end products and tap into global markets. furthermore, increased focus on exports and a favourable government policy have resulted in an increase in domestic production capacity and technological advancement. apart from an increase in imports, the popularity of online e-commerce has significantly changed the way consumers purchase their footwear. this has resulted in an increased demand for online delivery of readymade footwear. a number of companies have set up their own e-commerce websites, creating a new channel for customers to shop for footwear. the indian footwear market is now shifting from unorganised to organised players. the growing number of international and domestic brands in the country has encouraged organised players to enter the sector. the emergence of these organised players has helped create a more organised business environment in the industry. in addition to increased brand awareness and technological advancement, the entry of international footwear brands is also helping in the growth of the industry. the introduction of designer footwear and technologically advanced products has resulted in more customers opting for branded products. in conclusion, it is clear that the indian footwear market has significant potential to grow further in the upcoming years. it is estimated that by 2032 the indian footwear market will be worth us$ 28 billion, which makes it one of the biggest drivers of economic growth in the country. the aforementioned factors and the steady growth of the industry will continue to be a major contributor to the growth of the industry.