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Vietnam in 2023 could be most remembered for strengthening cross-border ties, pushing through new laws, or taking action to weather the storms created by trade issues, geopolitical conflict, inflation, and the post-pandemic landscape.
"This growth will be characterized by two main changes - a significant increase in the demand for non-leather footwear (like sports shoes, running shoes, casual wear, and sneakers) in India, rising from 25 per cent to 75 per cent of the market share by 2030; and a shift in leather shoe production from small-scale, cottage industries to large corporates," it said.
Get latest articles and stories on Business at LatestLY. Chennai (Tamil Nadu) [India], November 21: Contributing to 32 per cent (one-third) of India's production and home to premium brands, and with a policy rolled out last year that is pushing up its growth, the footwear sector in Tamil Nadu is a mainstay in the State's industrial growth story. Business News | Tamil Nadu Dominates in Footwear Manufacturing.
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As tensions rise between China and Taiwan, New Delhi could significantly benefit from Taipei, which produces over 70 percent of the world's semiconductors and 90 percent of the most advanced chips.