Summary:

India’s leather and footwear exports rose by 25% year-on-year to ₹48,667 crore (US$ 5.7 billion) in FY24, surpassing forecasts by ₹8,538 crore. Strong global demand, especially from the United States and the United Kingdom, is driving this growth. Despite a 10% tariff hike, there have been no order cancellations. The Council for Leather Exports (CLE) expects exports to exceed ₹55,497 crore in FY25. The sector currently employs 4.2 million people and has a total turnover of ₹1,62,222 crore.

India’s footwear sector is poised for significant expansion, with projected turnover reaching ₹3,32,982 crore (US$ 39 billion) by 2030—₹2,13,450 crore from domestic production and ₹1,16,971 crore from exports. Chinese investors have shown interest in partnering with Indian manufacturers to establish production units, potentially accelerating growth and generating more employment opportunities.

Source: IBEF

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