India's Footwear Export Industry Strides Ahead Amid Global Challenges

India's footwear export sector is experiencing robust growth, with exports rising by 25% in 2024-25. The industry anticipates crossing USD 6.5 billion in exports this fiscal year. Strong demand in the US and UK continues despite global economic uncertainties, and the sector remains a significant employment driver in India.

India's footwear industry is witnessing a remarkable surge in exports, marking a 25% increase year-on-year to USD 5.7 billion in 2024-25. The Council for Leather Exports (CLE) reports that the sector is well on track to surpass USD 6.5 billion in exports in the current fiscal year.

Both developed and developing markets have sustained their appetite for Indian footwear, particularly in the US and UK, our principal buyers. Despite global challenges and a 10% tariff hike, there have been no cancellations, and exporters are accommodating buyers with necessary discounts.

With a current turnover of USD 19 billion, the leather and non-leather footwear sector employs about 42 lakh individuals, playing a crucial economic role. Projections suggest a potential sector growth to a total turnover of USD 39 billion by 2030, complemented by interest from Chinese investors in establishing joint ventures within India.

(With inputs from agencies.)