It is understood that due to the new crown epidemic, the Indian footwear industry has lost export orders worth approximately US$1 billion. <\/p>\n
Aqeel Ahmed, chairman of the Indian Leather Export Council, said that according to India’s “Business Standard”, brands and retailers canceled a large number of orders, resulting in the industry losing about US$1 billion in export orders. <\/p>\n
He added that factories have been shut down in the past two months, and many forward contracts and credit lines are causing operational difficulties for exporters. <\/p>\n
Ahmed said at the “Indian Footwear Industry Alliance” online seminar that the industry may need a government bailout to reduce the goods and services tax (GST), especially Shoes priced above Rs 1,000 will help improve market demand. <\/p>\n
He added: Retailers and suppliers alike must take a more targeted and thoughtful approach to storage space and product assortment as more consumers turn to Online Shopping. <\/p>\n
ClasdfssdfsrkasdfssdfsIndiasdfss CEO NMohasdfssdfsn said: India’s footwear consumption has been rising at a compound annual growth rate of 7.6%. He added that per capita consumption of footwear has increased to two pairs of shoes per person per year, which represents a “huge opportunity.” The Indian footwear industry manufactures and sells 1,000 pairs of shoes every day, initially creating 425 jobs from manufacturing to peripheral industries to retail. <\/p>\n
He said: The industry needs to focus on the export of non-leather footwear. In terms of consumption, nearly 86% of the world’s shoes fall into this category. <\/p<\/p>\n","protected":false},"excerpt":{"rendered":"
It is understood that due to the new crown epidemic, the Indian footwear industry has lost export orders worth approximately US$1 billion. Aqeel Ahmed, chairman of the Indian Leath…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[46],"class_list":["post-4871","post","type-post","status-publish","format-standard","hentry","category-textile-fabric-news","tag-db"],"_links":{"self":[{"href":"https:\/\/www.textile-fabric.com\/index.php?rest_route=\/wp\/v2\/posts\/4871","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.textile-fabric.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.textile-fabric.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.textile-fabric.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.textile-fabric.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4871"}],"version-history":[{"count":0,"href":"https:\/\/www.textile-fabric.com\/index.php?rest_route=\/wp\/v2\/posts\/4871\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.textile-fabric.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4871"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.textile-fabric.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4871"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.textile-fabric.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4871"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}