India's Footwear Exports Surge 25% To USD 5.7 Bn : CLE

(MENAFN- KNN India) New Delhi, April 22 (KNN) India's leather and non-leather footwear exports have shown considerable growth, rising by nearly 25 percent to reach USD 5.7 billion in FY 2024-25, according to a report released on Monday.

The Council for Leather Exports (CLE) projects that exports will surpass USD 6.5 billion in the current fiscal year (FY26).

The CLE, representing footwear exporters across the country, attributed this performance to strong demand from both developed and developing markets.

R. Selvam, Executive Director, CLE, noted that India exceeded the Department of Commerce's export target by USD 1 billion for 2024-25, signaling strong industry performance.

"In 2024-25, we have exceeded the exports target by USD 1 billion set up by the department of commerce and going by this trend, our exports will cross USD 6.5 billion dollar in 2025-26," Selvam stated in the report.

Rajendra Kumar Jalan, Chairman, CLE, confirmed that exports are performing well in key markets including the United States and the United Kingdom.

He mentioned that despite facing a 10 percent tariff increase, exporters have maintained business relationships by offering discounts, successfully avoiding order cancellations.

Jalan reported that business conditions normalised by mid-April and revealed that the industry has proposed a 'zero-for-zero' duty arrangement to the Indian government as part of ongoing bilateral trade negotiations with the United States.

"From April 14-15, the situation is normal. We have suggested 'zero-for-zero' duty to the government in the proposed bilateral trade agreement with the US," he remarked.

The footwear sector represents a significant employment generator in India, providing livelihoods to approximately 42 lakh people.

The industry currently maintains an overall turnover of USD 19 billion, with exports accounting for USD 5 billion of this total.

Looking ahead, the sector projects substantial growth, with expectations to achieve a total turnover of USD 39 billion by 2030.

This forecast includes USD 25 billion in domestic production and USD 13.7 billion in exports, demonstrating the industry's ambitious expansion plans.

The report further mentioned growing interest from Chinese investors seeking partnerships with Indian footwear manufacturers to establish production facilities in India, potentially accelerating the sector's growth trajectory in coming years.

(KNN Bureau)

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