CII, Tata inks agreement with Indonesia to deepen business ties

Leaders of India and Indonesia on Wednesday witnessed the signing of a Memorandum of Understanding (MoU) between multinational conglomerate Tata and PT Pindad in Indonesia to collaborate for the supply of TATA trucks in Indonesia.

In this regard, the leaders welcomed the conclusion of MoU between PT Pindad and Bhukanvala, and noted with appreciation the ongoing collaboration between PT Pindad and Tata Motors to source defence related equipments for mutual benefit.

As per important announcements made under G2G and G2B, the Confederation of Indian Industry (CII) also announced the opening its first overseas Office in Jakarta, Indonesia with its representative from India.

To highlight possibilities for collaboration made in the area of infrastructure and defence, an MoU between CEO PT Pindad (PERSERO) & CMD Bhukhanvala is also announced to make use of products and related technical discussions along with exchange of data of the project.

Prime Minister Narendra Modi, who is on a 2 day visit to Indonesia will address an Indian community event at the Jakarta Convention Centre.

Further, Prime Minister Modi and President Widodo will attend the India-Indonesia CEO Forum.

Both India and Indonesia have warm and cordial bilateral relations. The two countries also share close cultural ties as well.

India and Indonesia are among the largest democracies in the world. Both are member states of the G-20, the E7 (countries), the Non-Aligned Movement (NAM), and the United Nations (UN) respectively.

Bilateral trade between India and Indonesia was worth nearly USD 15 billion between January and October 2017, with Indonesia's surplus at USD 8.3 billion, according to Jakarta Globe.