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The Indian Shoe Federation (ISF) and the Indian Footwear Components Manufacturers Association (IFCOMA) will jointly organise the next edition of their exhibition, SHOETECH, in Vellore in Tamil Nadu on July 22-23. Various component and machinery manufacturers will participate in the two day event, said Habib Hussain - President, ISF
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, he told newspersons.
The exhibition will be inaugurated by MM Hashim Sahab, Chairman, KH Group and Rafeeque Ahmed, Chairman of the Farida Group, says a release.
Sanjay Gupta, President, IFCOMA, said there will be 119 stalls and 98 exhibitors. All have been sold out. This is the seventh edition of Shoetech. Around 1,000 visitors are expected to attend the two-day event, he said.
Turnover and 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, he said.
The shoe component industry in India is projected to grow at a rate of 15 per cent this financial year and around 45 per cent in the the next three years. The turnover of the Indian footwear industry is expected to increase from $10 billion in 2021-22 to $18 bn by 2025-26. The production will increase from 2.6 billion pairs in 2021-22 to 4.55 billion pairs in 2025-26, says a release.
The Government is playing a big role by implementing the Indian Footwear & Leather Development Programme during 2021-26 with an outlay of ₹1,700 crore. This aims at providing support to technological upgradation of production units, environment management, enhancing institutional capacity, promoting brands and creating mega production clusters.
There is a sizeable domestic market in India for components, but Indian shoe components only form 50 per cent of their purchases as most of the sourcing is currently being done from Italy, Spain and Korea. IFCOMA and ISF expect there to be a greater demand from the domestic markets as an outcome of holding these pan-India exhibitions, the release said.
“International brands like Clarks, Marks & Spencers, Timberland and Kickers France are among the brands who will be attending. We expect SHOETECH to boost our efforts to make India the biggest sourcing hub in the world,” said Yavar Dhala - Vice President, ISF.
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