Hong Fu Industrial Group, the world’s second-largest maker of trainers, is investing in India by establishing a large manufacturing plant in Tamil Nadu, aiming to produce 25 million shoes annually and create 25,000 jobs. This strategic move comes as the global market becomes saturated, prompting Hong Fu to seek new opportunities in India's burgeoning non-leather footwear segment. The Indian government supports this investment by introducing stricter quality standards for shoes, addressing the market’s low-quality products while acknowledging that affordable shoes from small manufacturers dominate the market.
The international market is saturated and they [Hong Fu] were looking for a new market. There is a drastic increase in non-leather footwear in India. It has huge potential.
These BIS standards are really about cleaning up the market. We've had too many low-quality products flooding in, and consumers deserve better.
Hong Fu is currently building a giant plant in Panapakkam, in the state of Tamil Nadu in south eastern India, set to make 25 million pairs of shoes a year.
The project has Indian partners, including Aqeel Panaruna, the chairman of Florence Shoe Company, who emphasizes the potential of the Indian footwear market.
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