The import of footwear with outer soles and uppers of rubber or plastics to India is projected to grow from 2024 to 2028 with a steady upward trend. In 2023, the volume stood at approximately 10.58 million kilograms, reflecting significant growth in the forecasted years. The year-on-year growth rates hover around 4.5%, showing robust demand and upward momentum in the sector. Over the last five years, the compounded annual growth rate (CAGR) is expected to be around 4.25%, indicating consistent expansion.
Future trends to watch for include potential impacts of economic policies and trade agreements that may alter import duties, influencing cost efficiencies and market dynamics. Additionally, evolving consumer preferences and sustainability considerations may drive innovations in materials, potentially affecting import patterns.
