Home / Knowledge / News / Trade with Indonesia to reach $10 bn by 2010
Trade with Indonesia to reach $10 bn by 2010
17
Jan '08
Dr. Mari E. Pangestu, Minister of Trade, Republic of Indonesia India and Indonesia, said that India and Indonesia has constituted a Joint Study Group to evaluate the possibility of an FTA and spelled out a vision for an Asian Economic Community.

She stated that Indonesia currently exports mainly palm oil, copper and iron ore to India, and imports cotton form India. The target of $10 billion by the year 2010, can be realized only when this trade commodity basket moves beyond traditional products.

Providing guidelines on how to develop the India-Indonesia relationship further, she revealed that Indonesia is following the India's comprehensive reforms model, by setting up “islands of best practices”, that is SEZs, which would provide best infrastructure within a geographical defined area and sooner Indonesia would have a single window Investment Service Unit. India's IT, education, healthcare, pharmaceutical, tourism, e-governance, creative and automotive industry are the areas of opportunity for Indonesia, she remarked.

“We are large countries sharing a common philosophy since the days of Non-Alignment Movement” said Mr Venu Srinivasan, Managing Director, Sundaram-Clayton Ltd, India, while addressing a luncheon session “Opportunities for Indian Business in Indonesia” on second day of the Partnership Summit 2008."

Referring that India has made a mark in services industry, especially in IT, education and healthcare sectors, he said these areareas where Indonesia can bank on. He had set the target for India – Indonesia bilateral trade to reach $10 billion from the level of $6 billion in 2007.

Cooperation of Small and Medium Enterprises would provide a considerable opportunity to grow and develop this sector. He then stated that India's investments in Indonesia has so far been rewarding and fulfilling experience. It's a matter of concern that there is plethora of windows to come across in order to start manufacturing in India and this should be addressed effectively.

Confederation of Indian Industry


Must ReadView All

Sri Lanka’s apparel exports rise after EU GSP+ reinstatement

Apparel/Garments | On 18th Nov 2017

Sri Lanka’s apparel exports rise after EU GSP+ reinstatement

Sri Lanka’s apparel exports from January to September 2017 has...

Bangladesh plans 2 leather estates in Rajshahi, Chittagong

Apparel/Garments | On 18th Nov 2017

Bangladesh plans 2 leather estates in Rajshahi, Chittagong

Bangladesh Prime Minister Sheikh Hasina has said two more leather...

ASEAN, Hong Kong sign free trade agreement

Textiles | On 18th Nov 2017

ASEAN, Hong Kong sign free trade agreement

The Association of Southeast Asian Nations (ASEAN) and Hong Kong...

Interviews View All

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Top executives
Textile industry, India

The event should be organised every year

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

November 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.5%
No
12.4%
Skip
19.1%

Total Votes: 89

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.8%
No
30.3%
Skip
7.9%

Total Votes: 89

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.5%
No
10.1%
Skip
3.4%

Total Votes: 89

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
80.9%
No
9.0%
Skip
10.1%

Total Votes: 89


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search