28 August 2023, Mumbai
In brief
The Indian footwear sector is expected to grow by 11% in revenue and 4% in volume in FY23, driven by lower raw material costs. The operating margin is expected to expand to 9%, but remain below pre-pandemic levels.
Domestic revenue is projected to grow by 10%, while exports are expected to slow to 12%. The focus of the industry is shifting to fashion and athleisure.
