With most of the demand in sport's shoes being fulfilled through imports, Indian Manufacturing needs to vocalize 'Make In India' to cater for every single opportunity in Sport's Shoes Manufacturing, making India a global hub of Sports Shoes Industries. We at Evertrade is progressing in making our Make in India goal achieved as construction at Odisha is on full swing.
Self-sufficiency in manufacturing has always been remarkable, especially, while concerning sports shoe manufacturing, which follows dynamic trends in the market due to diversity in customers need, technology adoption and comfort styles. For becoming a leader in such a dynamic manufacturing sector to meet the criteria of the global competitive edge, self-reliance is the key which is reflected in the ‘Atmarnibhar Bharat Mission.’
With propelling economy and skilled workforce, the Indian Footwear Market is second in the world with a 10 % contribution in the global Footwear market, after China. But despite offering a huge market for footwear, there is a dearth of indigenous sports shoe manufacturers. However, the Athletic footwear market in India is expected to grow with a CAGR of 14.3 per cent by the year 2023, which makes Sports Shoe manufacturing a sound opportunity for Indian shoe manufacturers to fully tap their growth potential.
Driving Make in India: Raising the Brand Quotient
While looking into the global sports shoe market, the industry in China and Vietnam is largely export-oriented where 70.8 per cent of the production and 97.8 per cent of the production respectively are exported. As of 2018, out of the world’s total production of shoes, 86.2 per cent were manufactured in Asia with China, India, Vietnam and Indonesia leading the domination of the Asia-Pacific region. In terms of consumption, China is the largest consumer of footwear with a world share of 18.4 per cent followed by India at 11.7 per cent and the US at 10.7 per cent.
The demand for shoes, especially sports or athleisure shoes, has been driving the demand in the Indian shoe market. The overall footwear market in India is pegged to grow at 11 per cent over the next five or six years. Globally, 86 per cent of footwear consumption has become non-leather by volume and India is witnessing a similar trend. However, India Sports Shoe Industry is primarily driven by the domestic market, as seen in the fact that out of 2065 manufactured pairs of sports shoes, only 115 billion pairs are exported.
The need of the hour is to reduce the overwhelming dependence of India on China and Southeast Asia, and we, at our Evertrade Footwear unit will ensure that by bringing the requisite expertise and acumen to the country’s sports shoe manufacturing.
Every trade is coming to the East Indian state of Odisha in April 2022. Our priority is to support Indian brands with our in-house manufacturing facilities. We have to make our shoes attractive to the traditionally price-sensitive Indian market. In this regard, at least in the initial stage, Evertrade will target the mid and mid-upper segments in the sports shoe industry.
Snags and steps towards self-sufficiency
Apart from China, India is foreseen to face heavy competition from the countries of Southeast Asia. To outdo them, the country must prepare adequate infrastructure, chart suitable investment plans, and develop a proper ecosystem in a short span of time.
Facing global competition can become possible by assuring the quality of the shoes with the latest technology calibre and economy upscaling, which can empower the native shoe manufacturing facility. Every trade will bring upper components from China itself because it is practically impossible to raise a factory out of the blue.
We have to work in phases and our intentions, in the long run, will include starting assembling, backward integration, soles, making our own raw materials, and so on. That is our plan, and it will take at least a year. It is not easy for 1,000 to 1,500 workers to train in a new environment.
We hope that we will be able to gradually wean off this dependence and these goals are realistic. In the next two to three years, Evertrade will improve the Indian scenario with their experience from China. The factory in Odisha is only the first step towards a grand scheme for an ‘Atma-Nirbhar’ India.
