Impact of COVID-19 on the footwear industry of India: With special reference to Bata India Ltd
Dr. Bhuvana Venkatraman and Devesh Pal
India is the second largest consumer and producer of shoes in the world after China and it is estimated that this industry in India will see 8 fold increases by 2030. India contributes 13% in production of footwear in the world accounting to 16 billion pairs annually. India stands on 3rd position after China and USA, when it comes to largest footwear consuming countries of the world. India stands far lower than the other global leaders of the world when it comes to having number of footwear per person. Indian consumes nearly 1.66 pairs of footwear on an average while the global consumption stands at 3.0 pairs of footwear annually. There are almost 18,000 units working in footwear manufacturing industry in India, accumulating an estimated total turnover of about Rs. 50,000 crores out of which Rs. 32,000 crores are from the domestic market while rest 18,000 crores comes from the exports. But all this was affected by a pandemic, a pandemic that the world has been witnessing since last 2 years. Each and every industry got affected due to this pandemic and footwear was not an exception to this. Our research paper on this title emphasises the impact of the pandemic (COVID-19) on the footwear industry in India by narrowing article’s circumference to Bata India Ltd. Our paper tries to show the effect of pandemic on the company’s revenue, net profit, its comparison with other footwear companies, etc. Descriptive research design has been implemented in this research paper, while the data was collected from secondary sources.
Dr. Bhuvana Venkatraman, Devesh Pal. Impact of COVID-19 on the footwear industry of India: With special reference to Bata India Ltd. Int J Finance Manage Econ 2022;5(2):77-87. DOI: 10.33545/26179210.2022.v5.i2.151