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Robust trade relations encourage Indonesia to invest in Make in India

IANS  |  Jakarta 

Robust trade relations between India and Indonesia encourage Indonesian companies to invest in India under the 'Make in India' initiative, an Indian official here has said.

Manish, deputy chief of mission at the Indian embassy here reiterated that the Make in India programme represents an attitudinal shift in how India relates to investors: "Not as a permit-issuing authority, but as a true business partner."

The Indian envoy was speaking at an event organized as part of 'Sahabat India: Festival of India in Indonesia 2015' to promote people-to-people contacts through business relationship.

The event was attended by a 40-member business delegation from Basic Chemicals, Pharmaceuticals & Cosmetics Export Promotion Council (CHEMEXCIL). The delegation visited Jakarta on March 17 for a business-to-business meeting with Indonesian business, organized in association with the Embassy of India and KADIN Indonesia.

CHEMEXCIL was set up by the Indian Ministry of Commerce & Industry to promote exports of dyes and dye intermediates, basic inorganic & organic chemicals, agrochemicals, essential oils, and specialty chemicals, among others.

Emerging countries like Indonesia and India have strong potential to take the industrial challenge forward, especially the chemical industry business, Muhammad Khayam, director in the Indonesian Ministry of Industry said.

One of the pillars in the development of Indonesian national industry is the chemical industry showing a growth performance significantly above 10.17 percent in 2014, together with pharmaceutical and traditional medicine industry, a statement issued by the Embassy of India in Jakarta said.

Indian companies have made investments in infrastructure, power, textiles, steel, automotive, mining machinery, banking and consumer goods sectors in Indonesia.

India-Indonesia bilateral trade and investment relations have grown rapidly in the last decade and Indonesia has emerged as the second largest trading partner of India in the ASEAN region with bilateral trade of about $20 billion in 2013-14, which is expected to reach $25 billion by 2015-end.

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First Published: Thu, March 19 2015. 19:24 IST