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We can touch $16 bn in textile exports – Minister
26
Nov '09
Textile and clothing exports which stood at US $10.8 billion in 2008 and $10.3 billion in 2007 are expected to scale up to $ 16.7 billion in the next five years, said the Minister of Industry MS Hidayat.

Indonesia as of now has a worldwide textile and clothing market share of just 1.43 percent, but we are targeting to take that market share to around 2 percent by 2014, he added by saying.

He said that the Industry Ministry will continue the program of machinery up-gradation up until 2014 and in the process target 700 companies with an estimated aid of Rp 1.1 trillion and private investment of Rp 11 trillion.

Imports from the textile and clothing sector are expected to grab a bigger slice of the domestic market share in the current year, bur according to Hidayat, local industry will once again bounce back to regain 80 percent domestic market share by 2014.

Fibre2fashion News Desk - India

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