Home / Knowledge / News / Textiles / Indonesian textile industry has good prospects: President
Indonesian textile industry has good prospects: President
19
Mar '14
There are good future prospects for the Indonesian textile industry, President Susilo Bambang Yudhoyono has said, while inaugurating the expansion of PT Sari Warna Asli in Randusari village of Boyolali regency in eastern part of Central Java province.
 
President Yudhoyono said the textile industry in Indonesia has a bright future due to the rising population and purchasing power.
 
He said he strongly disagrees with the notion that the textile industry in Indonesia is a sunset industry. He added that such a mindset needs to be changed as it can reduce creativity, innovation and confidence in promoting the textile industry.
 
He said Indonesia currently has a population of more than 240 million, which will continue to increase in the coming years. This growth of population would be accompanied with a rise in the number of middle class population with increasing purchasing power.
 
Indonesian citizens are the ones who would consume textiles and garments as their purchasing power will continue to increase, Mr. Yudhoyono said.
 
The improvement in economic conditions as well as work opportunities and other factors would mean that income levels of people will continue to increase, he added.
 
Mr. Iwan Setiawan Lukminto, director of PT Sritex and PT Sari Warna Asli, said the opportunity is wide open for Indonesia to become a global player in the field of textiles and apparel.
 
He said Indonesian textiles currently meet about two percent of the global textile and apparel demand. According to him, opportunity also arises as China, which dominates the global textile industry, is vacating the space by entering into manufacturing of other products that have higher value and technological content.
 
Indonesian textile industry has grown at an average rate of 6.2 percent over the last five years. Last year, the Indonesian textile and clothing industry earned US$ 12.64 billion from exports.
 
Unlike PT Sritex, which is mainly into manufacturing of military uniforms, PT Sari Warna Asli would produce specialty fashion products.
 

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 2nd Dec 2016

Indian currency crisis impacts global cotton market

The currency crisis in India, marked by insufficient supply of new...

Huang Wei from Fiber Raw Material Dept of Sinopec Chemical Commercial Holding speaking at the Forum

Textiles | On 2nd Dec 2016

Huge potential for nylon consumption: Experts

There is huge potential for increase in nylon consumption said...

Apparel/Garments | On 2nd Dec 2016

Aditya Birla Group to establish apparel unit in Odisha

Aditya Birla Retail and Fashion Ltd. (ABFRL) is establishing a new...

Interviews View All

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search