India, Indonesia deals at $15.1 bn

Jan 25, 2011 |

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New Delhi: India and Indonesia today signed 18 agreements worth USD 15.1 billion in sectors like mining, infrastructure and manufacturing.

"I very much welcome the signing of 18 business MoUs in infrastructure, manufacturing, mining and other areas worth USD 15.1 billion," Indonesian President Susilo Bambang Yudhoyono said at a business meeting here.

GVK Power and Infrastructure has signed two MoUs with the Indonesian government to develop greenfield international airports in Bali and Java.

Both countries have also set a target for bilateral trade to touch USD 25 billion in the next five years.

"We are growing stronger as economic partners. Our bilateral trade tripled in last 5 years from USD 4 billion in 2005 and is expected to reach USD 12 billion in 2010. Our next target is to double this in the next five years to USD 25 billion," Yudhoyono said.

Speaking on the ocassion, Commerce and Industry Minister Anand Sharma said there are huge opportunities available for businessmen of both countries.

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