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Growth Of Indian Shoe Industry Essay

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GROWTH OF INDIAN FOOTWEAR INDUSTRY The growth of the shoe industry in India in the recent years owes much to the tendency of Indian customers to spend on clothes and shoes especially for special occasions. This trend has helped the various segments like the following: • Formals • Sportswear • Casuals • Adventure wear • Home wear • Wedding wear • Lounge wear • Club wear It is estimated that between 2006 and 2011 the aggregate worth of the Indian footwear industry has increased by 200 percent to go up to almost INR 20 thousand crore. This has also led the retailers to increase the number of their stores in an urgent manner. This is one of the few industries where growth is the watchword and not much thought is spared for recession, …show more content…

Finished leather stood third with global exports of US$ 8.79 billion in 2010, while harness had the least global exports within the leather & footwear sector of US$ 1.09billion in 2010. Same trend has been witnessed in Indian leather industry. India’s total exports for thesector stood at US$ 3.7 billion in 20102, out of which footwear and leather apparel & goods segmentscontributed to more than 75% to the total exports (44% and 32% respectively). Given the current andexpected future contribution of these segments, improvements in these two segments are expected tohave far reaching and large impact on overall competitiveness of the Indian leather & footwearindustry.Australia. China is the largest exporter of leather goods and apparel globally contributing to around40% to global leather apparel & goods exports of US$ 47.8 billion in 2010. Italy was second withcontribution of 10% to the global leather apparel & goods segment in 2010.China’s leather industry growth can be attributed to the first wave of economic reforms in 1978 withrapid development of Town and Village Owned Enterprises (TVEs) and second wave with foreignfirms investing in China. Incentives for Foreign Invested Enterprises (FIE), which included subsidizedland and power, reduction of import duties, tax holidays etc. has boosted Chinese exports manifold.Further, the cluster based approach has allowed Chinese companies to produce and deliver largevolumes of footwear per order in most cost efficient manner. The close geographical location ofsimilar manufacturers in the cluster enables efficient handling of production and delivery, sharing ofinvestment cost of building facilities and other infrastructure like Common Effluent Treatment Plants,and reduction in shipping costs between suppliers and manufacturers. China has also been able toovercome technical barriers of trade in key international markets like Europe & the

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