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Need to speed up India, Indonesia trade negotiation

India will push for early conclusion of an economic accord with Indonesia to achieve the bilateral trade target of $25 billion by 2015, with cumulative Indian investments of $20 billion into this country, the Indian envoy in Jakarta said Wednesday.

"Indian and Indonesian companies need to build partnership, especially in sectors like infrastructure, services and manufacturing," Indian Ambassador Gurjit Singh told a meeting of business chamber members of the two sides here.

"Such a partnership can be in the form of joint partnership in each other's countries, ASEAN or third countries," the envoy said, adding the focus areas can be pharmaceuticals, agriculture, SME sector, capacity building and human resource development.

He said as a strategic partner, India offered opportunities to young Indonesians for capacity building by way of 125 scholarships per year. He also hoped the comprehensive economic cooperation agreement will be signed soon.

"India has also provided assistance to set up vocational training centres here and at Banda Aceh. We are now planning to open another vocational training centre in Papua," he disclosed.

The interaction was organised by the embassy of India between the members of the India Business Forum and KADIN Indonesia (Indonesian Chamber of Commerce). KADIN chair Suryo Bambang Sulisto was among those who addressed the event.

Sulisto acknowledged India's fast development and said it has lot to offer Indonesia in areas like IT, education, health and pharmaceuticals. He also called for ties among universities, and scientific, research and technology institutions of the two sides.

The India Business forum, an initiative of the Embassy of India in Jakarta, was set up in 2012 to bring together Indian and Indonesian entrepreneurs and professionals so as to facilitate economic engagement, new investment and technology infusion.