Indian footwear makers plan strategies to counter China, Vietnam race

Indian footwear makers plan strategies to counter China, Vietnam race: https://www.thehindubusinessline.com/economy/indian-footwear-makers-plan-strategies-to-counter-china-vietnam-race/article66238425.ece

China and Vietnam control 75 per cent of the world’s footwear market and these countries are well equipped to meet the rising global demand in terms of quality and capacity. India should act fast to regain its share to meet the global demand, said V. Noushad, CIFI national president.

India’s current export is only two per cent share of the world’s export while that of China stands at 64 per cent and Vietnam 10 per cent. The export opportunity for India is estimated to be 10 per cent of global export share, he added.

Need for support’
With 30,000 footwear manufacturers, India is the second largest player in the global footwear industry. However, 80 per cent of the global footwear market is non-leather and there is a need for support from the government for the easy availability of raw materials, footwear components, moulds and machineries which are currently being imported from China.

The CIFI meeting also urged the Government to organise international footwear exhibitions for inviting global brands to India. Furthermore, the Government should also enter into Free Trade Agreements with countries having a major consumer market and invite leading footwear brands to invest in India.

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