India’s footwear exports have been losing impetus, and Bangladesh, the neighbour who has become a rising star in labour-intensive sectors such as textiles, is slowly forging ahead.
Bangladesh’s footwear exports have risen from $1 billion to $1.7 billion in 2020-2022; India’s exports have in the period grown from $2.8 billion to $3 billion, according to the Federation of Indian Export Organisations (FIEO).
The global footwear trade expanded by 5%, while India’s exports contracted in the last three years.