India is the second largest footwear producer in the world with nine per cent share of global annual footwear production. China produces over 60 per cent of the global footwear.
From a basic need-based industry to an indispensable part of the global fashion market, Indian footwear industry has come a long way. Cluster development activities in the industry has given a major boost to private capital flow in the organized segment and enhanced capacity to keep pace with future growth prospects. India has introduced clusters across the footwear sector to establish co-operation and joint strategy among firms. Athleisure footwear is picking up fast because of aspirational consumers and the trend is not confined to metropolitan cities but small cities and towns are generating equal traction. There has been an incremental rise in women’s per capita expenditure. So, manufacturers and retailers are increasingly focusing on women’s footwear. Moreover, there is growing number of women at workplaces and high disposable incomes.
Companies like Bata and Liberty are expanding their range. Bata revamped its brand image and is extremely popular among the young audience. The brand has understood the changing dynamics of the fashion industry and has introduced modern footwear designs.