Vietnam and India can complement each other in the footwear sector
Vietnam and India are two "giants" in production and export of footwear in the world. Notably, in this field, Vietnam and India can complement each other.
This is because Vietnam is currently one of three largest footwear exporters in the world with a production volume of about 1.3-1.4 billion pairs per year; however, localization rate of the industry is only about 50-55% depending on product type. This is still considered a bottleneck that reduces added value and makes it difficult for the industry to fully utilize tariff preferences from signed free trade agreements.
Meanwhile, India has a strong advantage in raw material production. At a recent online seminar on "Shaping future of Vietnam-India Leather and Footwear Cooperation", representatives from Vietnamese Trade Office in India reported that India accounts for approximately 13% of the world's leather production and is the world's second-largest producer and consumer of footwear.
While global supply chains are shifting and major markets are increasingly demanding sustainable development, environmental protection and traceability, strengthening bilateral cooperation is essential to build a diversified and sustainable supply chain and enhance competitiveness. This also provides a strong impetus for Vietnam and India to collaborate in building a leather and footwear supply chain to increase added value and consolidate the position of both countries on the world industry map.
Besides potential for cooperation in the raw material supply chain, India is also an attractive market for Vietnamese leather and footwear businesses. According to representatives of Vietnam Leather and Footwear Association, India has a large consumer demand and a strong advantage in leather footwear products. Meanwhile, Vietnam has a strong advantage in sports shoes, which is an advantage for boosting exports to this market and avoiding direct competition.
In addition, India has been focusing on simplifying business operations and reducing administrative procedures... This is also identified as a favorable factor for Vietnamese businesses to take advantage of opportunities and boost exports to this market.
Adding impetus to bilateral cooperation
In the South Asian region, Vietnam and India are two countries with close relations in many fields. Especially after 10 years of upgrading their relationship to a comprehensive strategic partnership (2016-2026), the two countries have continuously strengthened political trust, expanded cooperation in many fields and achieved many positive results.
Among these, economic and trade cooperation continues to be a bright spot, with strong growth in bilateral trade turnover. Investment, digital technology, textiles, footwear, energy, supply chains and innovation are increasingly being promoted in a substantive and effective manner.
To further promote cooperative relations, government agencies of both countries have regularly organized networking activities for businesses over the years. As a result, trade and investment relations, including in the footwear sector, have consistently achieved positive results.
Data from Customs Department (Ministry of Finance) shows that in the first quarter of 2026, Vietnam exported over US$2.9 billion worth of goods to Indian market, with footwear alone reaching over US$44.5 million; imports totaled US$1.8 billion, including over US$23 million worth of textile and footwear raw materials and accessories. Thanks to complementary nature of their import and export trade, Vietnam and India have significant potential for expanding trade volume and cooperation.
In particular, the State visit of General Secretary and President To Lam and the high-level Vietnamese delegation to India at an invitation of Prime Minister Narendra Modi is highly appreciated.
Two leaders are expected to exchange and discuss strategic directions to promote cooperation and create breakthroughs in potential areas such as science and technology, innovation, digital transformation, healthcare, clean energy, infrastructure and promoting people-to-people exchanges, culture, and religion. This is expected to expand scope of cooperation, broaden trade and investment markets, strengthen supply chains and promote science and technology cooperation to attract resources for development. Among these, footwear is one of the items with significant potential for expanded cooperation.

Source: Vitic/ congthuong.vn