Looking for good shoes for walking, cycling?

Hi, is there any particular brand or type of footwear I need to wear for cycling? Can I use the same pair that I use for walking or running?
I have read some articles that point that I need to see a podiatrist for a good pair.
Do I need any in-soles or something like Dr.Scholl's? Any inputs for India specific information?
I used NewBalance, Reebok or Nike brands footwear until now for walking shoes.

In general, no you don't need specific shoes for cycling. the more rigid the soles, the more comfortable you might find it. if you truly get in to cycling, I'd highly recommend clipless pedals and shoes - which are very specific. But, for general cycling, nope, wear what you wear and have fun.
for walking, you are doing fine with whatever shoe you find comfortable that fits. You only need insoles if you are having a problem with your feet or ankles, otherwise don't mess with it.
having said that, can you get vibrams in India? I am a complete 'barefoot shoe' convert. They don't work well on a bike because they are not rigid soles at all. They work well to hop on with my clipless pedals because I can grip the pedal with my toes.

Thanks TS, I will look into the link shared by you. I would like to know what are vibrams before I can find whether I can get those here.

TS is correct: unless or until you get the "bug" to take cycling more seriously just use what you have.