India Footwear Sales Will Reach 6 Billion US Dollars In 2020

Publisher:Administrators    Time:2018-6-7     Browse:223

India is the world's second largest footwear producer, with a total population of 1 billion 200 million. It is expected to reach 1 billion 600 million in 2024 and become the most populous country in the world. Therefore, its shoe industry is not an accident based on domestic sales. In 2010, India produced 2 billion pairs of footwear products, half of which were leather shoes.

The average consumption of local footwear products in India is about 1.6 pairs, 50% of which are men's shoes, 40% for women's shoes and 10% for children's shoes. In 2010, the total sales volume of footwear products was about $3 billion, which is expected to grow at a rate of 8%, reaching 6 billion US dollars in 2020.

In the next three years, India will add hundreds of large shopping centers, more Westernized lifestyles and a rapid increase in the demand for women's shoes, all of which have increased the confidence of the local footwear market.

The total export of India was 115 million pairs last year, and the global sales volume was 1 billion 500 million dollars, reaching a new high of history, of which the sales of the EU countries were about 1 billion 200 million.

The cost of labor in India footwear industry is the lowest in the whole industry, about 0.45 US dollars per hour, and about 1 million workers. Most of the shoemaking bases are short of labor. The government has invested a lot of money in training new shoemaking employees, and hopes to increase 2 million footwear workers by 2020.

Of course, there is still a pressing need for investment in the footwear industry to solve the problem of supply of new workers in India. So far, the problem of introducing foreign capital, such as the reality of sports products, has not yet been solved.