Indonesia is keen on enhancing trade and investment ties with India in the areas of information technology (IT), health and pharmaceuticals, agro products, automotive components and tourism, Consul General of Indonesia Agus P. Saptono, on a visit to the city, said on Tuesday.
Interacting with members of the Federation of Telangana Chambers of Commerce and Industry (FTCCI), he said the two countries were pursuing a $50 billion bilateral trade target by 2025. The bilateral trade crossed $20 billion last year.
A release from FTCCI said Indonesian exports to India consists of textiles, electronic goods, footwear and sawn timber, while chemicals, pharmaceuticals, machines and motor vehicles are the major imports from India to Indonesia.
He said tourism offered a huge growth potential for both Indonesia and India. Food processing and construction are two sectors where Indonesian companies have invested significantly in India.
The Consul General said online meetings focused on furniture, spices and food processing are to be held for exploring business opportunities. He also invited FTCCI members to participate in the Virtual Trade Expo Indonesia scheduled to be held from November 10-16.
FTCCI President Ramakanth Inani said the Federation was working closely with Indonesian agencies in the country towards enhancing bilateral trade, particularly between Indonesia and Telangana. The State was growing consistently and offered several growth opportunities, particularly in pharmaceuticals, agro and food processing, IT, tourism, logistics, energy and manufacturing sectors, the release said.