Possibility for Vietnamese footwear in India - IIFF Expo Opportunity

DNHN - Participating in IIFF and conducting thorough research on the Indian market is an effective way for Vietnamese businesses to capitalize on this potential market opportunity.

The 7th India International Footwear Fair (IIFF) in New Delhi (India) has attracted leading companies such as Biti's and Emall, as well as a chance for Vietnamese brands to exhibit. Discover the latest footwear industry trends, find business partners, and expand your affiliate network on the Indian market, which is ripe with opportunity.

The IIFF trade show featured footwear, raw materials, finished products, and auxiliary materials, such as synthetic materials and finished leather; components - uppers, soles, and heels; machinery, footwear, process technology, chemicals, packaging, and publications. Biti's, one of the most prestigious and well-known brands in Vietnam, and Emall, a distributor of the Pierre Cardin Shoes and Oscar footwear brands, participated in this event alongside the representative of Vietnam. The promotion of fashion has been extensive in Southeast Asia.

The business prospects in the Indian market are promising and alluring. According to the Ministry of Industry and Trade's Industry Department, India's footwear market has reached a value of 15.5 billion USD in 2022 and is expected to continue growing at an annual rate of 11% over the next five years. By 2024, it is anticipated that India's leather footwear industry will surpass the $6 billion mark. This development creates more opportunities for Vietnamese businesses that can supply non-leather footwear to this market to meet the rising consumer demand.

India is becoming the second-largest footwear producer in the world, and imports account for approximately 60 to 70 percent of its production. This indicates that this market has a high consumption potential and presents an opportunity for Vietnamese companies to sell their goods here. In addition, the IIFF Fair creates favorable conditions for product access and marketing, enabling businesses to promote their brands and expand their operations.

In addition to displaying products, IIFF offers experience exchanges, seminars, and forums, allowing businesses to gain market knowledge, demonstrate professionalism, and gain access to international markets. other economic system.

Participating in IIFF and conducting thorough research on the Indian market is an effective way for Vietnamese businesses to capitalize on this potential market opportunity. Businesses in Vietnam can promote exports and increase their market share in India by accompanying business partners there and seeking wholesale and retail cooperation opportunities. This opportunity not only generates profits but also assists Vietnamese footwear brands in establishing their position and diversity in the global footwear industry.

P.V (t/h)