India & Indonesia get down to business

India signed 18 agreements worth $15.1 billion with Indonesia in sectors such as mining, infrastructure and manufacturing. The two countries have set a target to double bilateral trade to $25 billion in the next five years. India’s bilateral trade with Indonesia has more than trebled in the last five years. It has increased from nearly $4 billion in 2005 to an estimated $12.5 billion in 2010. Indonesian president Susilo Bambang Yudhoyono said that India and Indonesia can cooperate in a large number of areas like infrastructure building, transportation, IT, food industry, telecommunication, R & D, energy, mining, manufacturing, education and film industry. The deals signed on Tuesday include MoUs between Indonesian industry ministry and Indian ministry of chemicals and fertilisers for urea manufacturing, Provincial Government of South Sumatera and Jambi and Reliance Infrastructure for railway and seaport, Provincial Government of South Sumatera and National Aluminium Company (NALCO) for aluminium smelter.

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