Market size of Indian footwear industry can increase by over three times to $90 billion by 2030, provided a host of measures such as a ban on imports, fiscal incentives, more design centres and Taiwanese contract manufacturers setting up shops in the country are taken, a report has said.

Economic think tank Global Trade Research Initiative (GTRI) has said that the Indian footwear market, valued at $26 billion, is projected to reach $90 billion by 2030.

“This growth will be characterised by two main changes – a significant increase in the demand for non-leather footwear (like sports shoes, running shoes, casual wear and sneakers) in India, rising from 25 per cent to 75 per cent of the market share by 2030; and a shift in leather shoe production from small-scale, cottage industries to large corporate (houses),” it has said.

Suggesting eight actions for the sector, the report adds that shoe-making technology is primitive compared to electronics or semiconductor manufacturing, and India should support local production by domestic firms and MNCs and “stop imports” of finished shoes.

“Today many brands sell make in China or Vietnam shoes in India. Few others do part-manufacturing In India and import the premium shoes. India should support firms to make shoes locally by removing policy and logistics impediments,” the report has stresses.