Home / Knowledge / News / Textiles / China keen on investing in Indonesian textile industry
China keen on investing in Indonesian textile industry
29
Nov '10
Maoxin Ye, the Vice President of China Hi-tech Group Corporations, is excited regarding the setting up of a machine spare parts producing unit for textile industry in Indonesia. He said that, the company does not have any problem in transferring technology to the new plant, and is also capable of financing the project.

Unlike China which has 100 million mills, Indonesia just has eight mills. Therefore, China is interested in playing a significant part in Indonesia's textile machine restructuring program.

Though, Maoxin did not disclose the quantum of investment, he was optimistic that the government will help the company with its plan, like by offering tax concessions and import duty subsidies. He further said that, the company expects the government to treat it like an Indonesian firm.

If China makes investment in machine assembling, textile machine production will no more be meant to fulfil the domestic demand, as the machines then would be exported to even other developing nations including India and Pakistan, which also position themselves as major producers of textiles.

The shift towards Chinese products is mainly attributable to good quality of machines which enables the producers to boost their production to the level like that of the producers in Europe and Japan. Besides, energy saving capacity of Chinese machines is also high. Thus, Indonesian government has called upon the Chinese investors to invest in the country, and thereby to help it with its plan of restructuring the industry.

Of the eight million textile machines that Indonesia houses, two million are China-made, whereas remaining six million are more than 20 years old.

Chinese businessmen showed their interest in this program after the meetings that the government held in Beijing in October, and are believed to invest in various areas like production of textile, spinning and weaving machines as well as all other types of industrial machines.

The Indonesian government presently provides 10 percent subsidy on imports of textile machines meant for the restructuring program. This percentage would be further raised to 15 percent if the producers of these machines agree to set up their units in Indonesia.

Fibre2fashion News Desk-India


Must ReadView All

Courtesy: American Silk Mills

Textiles | On 18th Oct 2017

Sutlej Textiles adds American Silk Mills to its portfolio

Sutlej Textiles and Industries Ltd (STIL) has announced the...

Arvind Limited executive directors Punit Lalbhai (left) and Kulin Lalbhai explaining the project to Gujarat chief minister Vijay Rupani. Courtesy: Arvind Ltd

Apparel/Garments | On 18th Oct 2017

Arvind to set up mega apparel facility in Gujarat

Arvind Limited, one of India’s largest textile to retail...

Cotton stocks accumulating everywhere outside of China

Textiles | On 18th Oct 2017

Cotton stocks accumulating everywhere outside of China

Global cotton stocks outside of China are expected to rise by nearly...

Interviews View All

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Silvia Venturini Fendi
Fendi s.r.l

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

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

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

October 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.3%
No
13.6%
Skip
9.1%

Total Votes: 66

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
60.6%
No
28.8%
Skip
10.6%

Total Votes: 66

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
84.8%
No
10.6%
Skip
4.5%

Total Votes: 66

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
74.2%
No
12.1%
Skip
13.6%

Total Votes: 66


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search