India’s footwear market will surge at a CAGR of 9% during 2011-2014, according to market researcher RNCOS, which attributes the growth to the increasing government initiatives, low labour cost and entrace of international players.

The research report “Indian Footwear Market Forecast 2014” conducted by RNCOS, Indian footwear sector has gone through tremendous growth during the past few years on the back of liberalized framework and globalization of the industry.

In terms of target segments, the Indian footwear industry is dominated by men’s footwear section followed by women’s segment. Kids segment accounted for a very small share of nearly 11% of the Indian footwear retail market in 2010. However, the consumption trend is expected to shift more towards women’s and children’s footwear market. These segments, particularly women segment offer vast growth opportunities to both new as well as existing players.