7. Indian Footwear Market Liberalization of Indian economy led to increase in the buying capacity of the country’s middle class. Market Volume Forecast In 2009, the market is forecast to have a volume of 2.3 billion pairs, an increase of 29% since 2004. Market Volume The market grew by 8% in 2004 to reach a volume of 1.8 billion pairs. Market Value Forecast In 2009, the market is forecast to have a value of $3.2 billion, an increase of 31.5% since 2004. Market Value The Indian footwear market grew by 8.2% in 2004 to reach a value of $2.4 billion.