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Global changes compels leather footwear sector revisit strategies
20
Apr '09
The global recession and the resultant slowdown is giving rise to many tools of survival, amongst which modernizing machinery and garnering a higher share of the domestic markets seem to be on the top of the minds of the leather footwear manufacturers of Indonesia.

In previous years, leather footwear manufacturers used to allocate 60 percent of production for exports and the rest to domestic markets. But the recessionary trends have compelled them to revisit their strategies and now 60 percent is targeted for domestic consumers.

The industries also wants to take advantage of the recessionary trends and modernize in order to increase productivity, since the government has allocated US $5.17 million to sector to modernize the obsolete machinery and equipment used by the sector.

Experts have blamed the old machinery used by the leather footwear manufacturers as main reason for the fall in exports which has fallen from $2.1 billion in 1996 to just $1.8 billion last year, vis-à-vis the high growth attained by the sector in Vietnam, China and India.

Fibre2fashion News Desk - India

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