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Stake Holder : Textile Industry Needs Fundamental Changes

The proposal for the implementation of safeguards for garment products that was intensely discussed was said to have entered the decision-making stage.The Ministry of Trade said that policy support for the garment industry is needed in the midst of economic conditions that are still in the recovery stage.

In order to maintain stock price liquidity in the market, PT Trisula International Tbk. (TRIS) will buy back shares or buyback of shares that have been issued by the company which is listed on the Indonesia Stock Exchange (IDX). Maximum buyback is made of 10% of the outstanding shares. This information was conveyed by the company in a press release in Jakarta yesterday.

In recent years, Indonesia has continued to experience a significant trend of increasing imports of textiles and textile products (TPT). Starting in 2015, Indonesia imported up to US $ 7.98 billion of TPT from various countries. That figure slowly increased in 2016 to US $ 8.16 billion and 2017 to US $ 8.80 billion.

The virtual exhibition InaFashion Smesco Expo 2021, which is held on April 21-30 2021, is expected to encourage national economic recovery, especially UMKM in the fashion sector. The exhibition, which is organized by Inaproduct in collaboration with Smesco Indonesia.

The textile and textile product (TPT) industry is one of the industries that absorbs the most labor. This industry is recorded to be able to absorb 3.96 million workers from various groups ranging from large, medium business units, and mostly from small and medium industries (IKM).