Home NEWS Indian leather and footwear industry to reach 47.1 billion USD by 2030

Indian leather and footwear industry to reach 47.1 billion USD by 2030

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According to a strategic document outlining the trajectory of India’s leather and footwear industry, the sector’s turnover is poised for significant growth, projected to surge from approximately $17.3 billion presently to $47.1 billion USD by 2030.

The Vision Document-2030, jointly published by the Council for Leather Exports (CLE) and the Leather Export Promotion Council for Leather Products, anticipates a substantial rise in both leather and footwear production and exports, from the current $17.3 billion USD to $47.1 billion USD by 2030. This ambitious target comprises a domestic turnover of roughly $33.4 billion USD and an export turnover of $13.7 billion USD (compared to the current $12 billion USD and $5.3 billion USD, respectively).

Sanjay Leekha, Chairman of CLE, highlighted the footwear sector’s pivotal role in achieving the $47.1 billion USD target, noting that it accounts for approximately 50% of the projected turnover. This underscores the significance of the footwear industry in propelling production and exports forward.

Moreover, the document delineates a comprehensive overview of the global industry landscape, market analysis, regulatory frameworks, infrastructure assessment, as well as best practices and recommendations. These insights are geared towards guiding short, medium, and long-term strategies aimed at realizing the ambitious vision set for 2030.