In 2023, the import of footwear with uppers of leather to India stood at 103.22 million US dollars. The forecast for 2024 to 2028 shows a steady increase in imports, with year-on-year growth expected to be approximately 3% annually. The compound annual growth rate (CAGR) over this five-year period is projected at 2.8%, reflecting a consistent upward trend in imports.
Future trends to watch for include:
- Potential shifts in consumer preferences towards sustainable and eco-friendly footwear, which may influence import demand.
- Trade policies and tariff changes, which could impact import volumes and pricing.
- Technological advancements in manufacturing that may affect domestic production competitiveness versus imports.
