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India’s footwear market growing at over four per cent

The Indian footwear market is growing at 4.5 per cent. The footwear market in India is seeing an upsurge due to demand for trendy, fancy and comfortable footwear among the country’s young. India is the second largest footwear producer after China. The country produces 2.2 billion pairs of footwear, accounting for approximately nine per cent of the global annual production, while China controls over 60 per cent of the total production. Out of the 2.2 billion pairs produced in India, about 180 million pairs are exported, while the rest (approximately 95 per cent)meets the domestic demand. Consumers purchase footwear as per the occasion and have more pairs than ever. But the market is highly fragmented with close to 75 per cent production coming from the un-organized sector, including micro, small and medium enterprises.

The industry is growing, especially in the children’s and women’s segments. Indian men were earlier fond of open footwear, but that has changed. Closed footwear is in trend. With increasing trend for active and exercise regimes, demand for athletic shoes has grown among non-sportspersons as well. The changing trend is also leading to manufacturers widening their product portfolio in order to attract consumers and gain a competitive edge.

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