JAKARTA - Sharia economy is a core part of post-pandemic economic recovery policies in several countries. Despite the continued global uncertainty due to the COVID-19 pandemic, Dinar Standard, in the State of the Global Islamic Economy Report 2022 estimates that the total expenditure of global Muslims in 2022 will grow by 9.1%, which comes from the six real sectors of the sharia economy. namely the halal food and beverage sector, modest fashion, cosmetics, pharmacy, media and recreation, and travel. This growth is expected to reach US$2.8 trillion by 2025 or an increase of 7.5% (CAGR).
In Indonesia, the sharia economy also continues to grow and shows encouraging developments. Bank Indonesia (BI) in the Indonesia Halal Market Reports 2021/2022 noted the potential contribution of the sharia economy to a total of US$5.1 billion to the national GDP through the export of halal products, the growth of foreign investment, and import substitution.
Sharia economic growth is also getting stronger supported by several main drivers, including the large Muslim population, increasing awareness of Islamic ethical values related to the consumption of halal and thoyyib products, and more and more national strategies and programs dedicated to the development of halal products and services.
"The Ministry of Industry aims to strengthen the sharia economic ecosystem, especially the halal industry, through the holding of the 2022 Indonesia Halal Industry Awards (IHYA). It is hoped that IHYA can become a brand for the advancement of Indonesia's halal industry sector, as well as represent Indonesia's vision as a center for the world's leading halal producers, "said the Minister of Industry Agus Gumiwang Kartasasmita during the IHYA 2022 Kick-off in Jakarta, Friday (30/9).
IHYA was held for the first time in 2021 which resulted in 14 winners from seven categories and one Best of The Best award. In the implementation in 2022, there are eight main categories, namely the best halal innovation, the best social program, the best halal supply chain, and the best small industry.
Secretary General of the Ministry of Industry, Dody Widodo, reported that IHYA 2022 was held to give appreciation to stakeholders who have played an active role and innovated continuously in the development and empowerment of the national halal industry. (LM)