Business News Agency April 12 News The Ministry of Industry of Indonesia announced on March 30, 2011 that it plans to allocate a total budget of 177 billion Rupiah (about US$ 29.36 million) this year to revive Indonesian textiles and shoes. Development of leather and leather industries. Panggah Susanto, director of the Ministry of Industry's manufacturing division, pointed out that the financial assistance will be allocated to 150 textile companies and 20 footwear and leather manufacturing companies to replace old equipment.
According to the revitalization plan, eligible companies will receive a 10% subsidy for the value of the new machine. The ministry pointed out that Indonesia currently has about 4 million spinning machines and 200,000 looms for more than 20 years. The Ministry of Industry expects that with the improvement of technology, the above-mentioned subsidized companies can increase production efficiency and enhance competitiveness. With better production technologies and higher production, Indonesian companies will be able to increase their global market share.
According to the Indonesian Ministry of Industry, Indonesia's per capita consumption of textile products increased from 3.9 kilograms in 1999 to 4.5 kilograms in 2005 and 5.3 kilograms in 2008, and this year's consumption is expected to increase to 6.5 kilograms.
The global market share of Indonesia’s textile exports is expected to increase from 1.8% this year to 2.5% in 2014.
According to the revitalization plan, eligible companies will receive a 10% subsidy for the value of the new machine. The ministry pointed out that Indonesia currently has about 4 million spinning machines and 200,000 looms for more than 20 years. The Ministry of Industry expects that with the improvement of technology, the above-mentioned subsidized companies can increase production efficiency and enhance competitiveness. With better production technologies and higher production, Indonesian companies will be able to increase their global market share.
According to the Indonesian Ministry of Industry, Indonesia's per capita consumption of textile products increased from 3.9 kilograms in 1999 to 4.5 kilograms in 2005 and 5.3 kilograms in 2008, and this year's consumption is expected to increase to 6.5 kilograms.
The global market share of Indonesia’s textile exports is expected to increase from 1.8% this year to 2.5% in 2014.
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