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India can double its domestic footwear market

03/02/2016
India can double its domestic footwear market
Strong growth in the domestic footwear market as well as in exports can help the Indian leather sector meet a government target of expanding its annual turnover from current levels of around $12 billion to $27 billion by 2020. This was the message from Naresh Bhasin, chairman for the western region of the country’s Council for Leather Exports (CLE) and founder of Mumbai-based footwear producer RAM, at a press conference in Chennai on the eve of the nineteenth UITIC Congress. The event takes place in Chennai from February 3-5.

In answer to a question from World Leather, Mr Bhasin said footwear consumption is relatively low, estimating it to be 1.2 pairs per year for men and 2.3 pairs per year for women. This would give a national consumption volume of just over 2 billion pairs per year. The domestic footwear market has an estimated value of $6 billion now, but Mr Bhasin said he believes this could double. “All we need is men to buy an extra pair per year each and women and extra two pairs and we will have nearly doubled this total,” he explained.

Related stories:

Leather exports from India drop below $6 billion 04/05/2016
New footwear manufacturing hub for Haryana 16/03/2016
World Footwear contributor joins UITIC committee 07/03/2016
Suede shoes demand: First indication of better outlook for leather? 10/02/2016

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