CHENNAI: Tamil Nadu has been stepping up the promotion of leather industry by getting ready to host Shoetech, a two-day event in Vellore.
To harness the potential and exhibit the industry’s abilities to the world market, the Indian Footwear Components Manufacturers Association (IFCOMA) and the Indian Shoe Federation (ISF) are organising the next edition of their flagship exhibition, on July 22 and 23 in Vellore. Shoetech will be inaugurated by MM Hashim Sahab, Chairman, KH Group and Rafeeque Ahmed, Chairman, Farida Group
Habib Hussain - President, Indian Shoe Federation said, “The footwear and the component industries must work together to create a supply chain which has unbeatable turnaround times through digitisation, skilling up of the workforce and the adoption of Globally integrated production and information systems.”
Noting that the Centre and the State have been proactive, he said the direct involvement of Chief Minister MK Stalin, in granting approvals for one of the largest footwear makers in the world, Hong Fu from Taiwan, which has factories all over Asia, is a reflection of this.
“Also, the state has recently declared Ambur as an export hub for leather footwear,” Hussain added.
“To make the most of this growth, IFCOMA has sought help from the Government to conduct a component sector survey and explore the possibility of joint ventures with Spanish, Taiwanese and Italian companies for specific components that are presently being imported. We also seek support in terms of the integrated leather development scheme (IDLS) by way of subsidy on plant and machinery,” said Sanjay Gupta, President - Indian Footwear Components Manufacturers Association.
There will be 98 exhibitors and 119 stalls and around 1,000 visitors are expected over these two days from within and outside India. International brands like Clarks, Marks & Spencers, Timberland and Kickers France are among the attendees. “We expect the event to boost our efforts to make India the biggest sourcing hub in the world,” said Yavar Dhala - VP, Indian Shoe Federation.
India is the second largest producer of footwear and leather garments in the world.
There was an increase of 19.24% in exports in the leather, leather products and footwear in the last quarter of 2021-’22.
The shoe component industry in India, in particular, is projected to grow at a rate of 15% this financial year and around 45% across the next three years. The turnover of the Indian footwear industry is expected to increase from $10 bn in 2021-22 to $18 bn by 2025-26 and the production to from 2.6 billion pairs in 2021-22 to 4.55 billion pairs in 2025-26.
There is a sizeable domestic market in India for components, but Indian shoe components only form 50% of their purchases as most of the sourcing is currently being done from Italy, Spain and Korea. IFCOMA and ISF expects there to be a greater demand from the domestic markets as an outcome of holding these pan-India exhibitions.
Visit news.dtnext.in to explore our interactive epaper!
Download the DT Next app for more exciting features!
Click here for iOS
Click here for Android