In 2023, the import of footwear uppers and parts thereof, except stiffeners, to India was recorded at approximately 25.526 million USD. Notably, projections from 2024 to 2028 reveal a steady year-on-year increase in imports, with an overarching compound annual growth rate (CAGR) of about 2.25%. From 2024, each consecutive year sees an incremental rise, culminating in an anticipated figure of 28.661 million USD by 2028, reflecting growing demand and perhaps strengthening trade ties or increased production capacities within India.
Future trends to watch for include:
- Potential shifts in global trade policies impacting import tariffs.
- Innovations in the footwear industry that could affect demand for various components.
- Economic factors within India that may influence consumer spending on footwear.
- The influence of sustainability trends leading to changes in material import patterns.