Trade blocks against China spell opportunity for Indian footwear sector

The silver lining, however, is that if the industry checks certain boxes it could over time tap the export vacuum China will leave behind

India's footwear industry ranks high by volume, placing the country amongst the top three producers. However, its position as an exporter lags far behind China, the global market leader.

The short term slump in Indian footwear sector’s performance in fiscal 2020-21 is likely to be due to the Covid-19 pandemic, according to ICRA, which recently said revenues for the fiscal are expected to drop by 10-15 per cent over the last fiscal, with a larger impact on profitability.

The silver lining, however, is that if the industry checks certain boxes it could over time tap the export vacuum China