Indonesia has spelt out opportunities for Indian business houses through bilateral trade in sectors like oil and energy among others.
Addressing the India-Indonesian Business session organised by CII in Bangalore on Tuesday, Abunzal Bakrie, co-ordinating minister for external affairs, Republic of Indonesia, said Indian imports were already entering Indonesia but needed good marketing to sell these products."
"The delegation's visit to HAL highlighted India's capability to produce high-quality air planes and other indigenous products," he added.
The minister also invited Indian business houses to participate in the International Infrastructure Summit to be organised in Indonesia next February.
Venu Srinivasan, past chairman, CII Southern Region, welcoming the delegation, said while a number of Indian companies have a presence in Indonesia, there is still a need to explore the untapped potential such as healthcare, biotech, drugs and pharmaceutical, oil and gas, manufacturing, textiles, machine tools, fertilisers and engineering goods.
Highlighting the undiscovered areas where the two countries could trade, Ravi Uppal, Deputy Chairman, CII Southern Region and Vice Chairman and Managing Director, ABB, said, "India is planning to increase its steel production by three folds and thus the two countries could trade in steel, copper, aluminium, other non-ferrous metals and coal."
Listing out the positive aspects of setting-up businesses in Bangalore, Vinay Deshpande, former President, CII Karnataka said that the city had immense potential in terms of skilled manpower, R&D, innovation and climatic conditions. "The total software and hardware exports amounted to $ 24 billion," he added.
Speaking about India's e-governance national plan, Tanmoy Chakrabarty, Vice President, Global Government, Industry Group, Tata Consultancy Services said, "The project aims at digitising all manual paper files. Presently in Andhra Pradesh, procedures which earlier took about 22 hours took just two hours and have saved the government of 4,00,000 files and 10 tonnes of paper. Other initiatives under the project include implementation of VAT, extending digital illiteracy and freezing of new employments."
