Germany holds largest global textile machinery market share
09 Jun '07
1 min read
Textile machinery imports from the EU climbed eight percent to touch 30 million Euro mark in 2006.
Reportedly, major imports were of knitting and spinning machines, mostly from Germany.
"This increase is a very positive development for Indonesia. But it must be remembered that before the crisis, textile machinery imports to Indonesia from Europe reached 50 million to 60 million euros a year," T Waldmann, Managing Director, Textile Machinery Branch of VDMA, said at a recent presentation on the International Exhibition of Textile Machinery (ITMA), scheduled to be held in Munich, from September 13 to 20, this year.
Germany has the biggest share in global textile machinery market, accounting for 30 percent.
With booming textile industry in Indonesia and manufacturers upgrading and modernizing production units, machinery market is continuously expanding.
Recognizing this, Government has allocated Rp255 billion to subsidize the bank loans for the installment of new machinery.