26 dec 2024: IFCOMA hosted ShoeTech 2024 in mumbai, an exhibition that spotlighted India’s ambitious plans to elevate its footwear industry to global prominence. Industry leaders and manufacturers gathered to discuss strategies that align with the country’s goal of achieving a 26 billion USD turnover by 2030. The event offered insights into innovation, quality enhancement, and government-backed initiatives shaping the future of the sector.
Aiming for Global Leadership
India’s footwear market, currently valued at 18 billion USD—including 6 billion USD from exports—is poised for significant growth. By 2030, the industry aims to expand to 26 billion USD, with exports reaching 8 billion USD. Speaking at the event, Sanjay Gupta, President of the Indian Footwear Components Manufacturers Association (IFCOMA), underscored the importance of local manufacturing and quality standards in achieving these targets.
BIS Standards and Indian Shoe Sizes
A major focus of the discussions was the implementation of Bureau of Indian Standards (BIS) regulations for footwear, set to take effect in April 2025. These standards are expected to improve product quality, enhance manufacturing efficiency, and boost consumer confidence. Additionally, India will introduce its own shoe size standards, departing from UK and US sizing systems. Indian-sized footwear will be available from April 2025, promising a better fit for the domestic market.
Components Driving Change
Gupta highlighted the critical role of the 32 components required to manufacture a shoe. “All these components need to be manufactured in India, and with the government’s support, this is being taken up in a big way,” he said. By 2028, the domestic footwear component sector is expected to meet 50% of the country’s total demand. Government initiatives are also focused on establishing 10,000 micro and small component suppliers, fostering research and development, and enhancing workforce skills to drive innovation.
Global Footprint and Exports
As the world’s second-largest footwear producer, India exports approximately 250 million pairs annually. The United States and European markets remain key destinations. However, with the introduction of BIS standards and an emphasis on domestic manufacturing, India is poised to expand its global footprint further.
Government Support and Industry Collaboration
The Indian government is playing a crucial role in facilitating the industry’s growth. Efforts include promoting innovation through R&D funding, supporting micro and small enterprises, and launching skill development programs to strengthen the workforce. These initiatives aim to create a resilient and self-sufficient ecosystem for the footwear sector.
Looking Ahead
ShoeTech 2024 underscored the Indian footwear industry’s readiness to embrace change and innovation. With the introduction of BIS standards, localized sizing, and a focus on domestic production, the sector is well-positioned to meet its ambitious 2030 targets. As the event concluded, industry stakeholders expressed optimism and a shared commitment to driving India’s footwear industry to new heights.
ShoeTech 2024 not only celebrated the achievements of the sector but also set the stage for a transformative journey toward global leadership.
