Indonesia beckons India on enhancing trade and investment: Consul at KCCI

Mangaluru: Indonesia with lot of ethnic and religious similarities with India and GDP growth rate of 4.79 percent (Only behind China and India) provides great opportunities to enhance trade and investment, said Consul General of Republic of Indonesia in Mumbai, Saut Siringoringo in an interactive meeting with the local businessmen at KCCI on March 24.

Drawing parallels between two countries on many sectors, Indonesian Consul urged Indian businesses to come forward and avail opportunities to invest and enhance trade between two fast growing economies.

Through a PowerPoint presentation, the consul explained the economic status of Archipelago nation showing macroeconomic indicators and balance of trade statistics but rued over the fact that FDI realisation by India stood low compared to other economies except in mining, textiles and manufacture of metal, machine and electronic items.

A nation with 260 million population, 300 distinct ethnicities, 742 different languages and 90 different ecosystems, it provides ideal opportunities for investors with plenty of quality labour, political stability, strong reform commitment and sustainable GDP growth, Consul Saut Siringoringo said.

Only in pharmaceuticals, India evinced interest in recent times whereas Indonesia has contributed in coal and palm oil trade, clarified Siringoringo and added education sector growth between both countries as virtually nil despite Indonesia stressing on Human Resource Development. Indonesia has invested in Bangalore based Tanindo seeds, Garuda foods and Anabatic technologies and few other companies and added Karnataka is among the states showing good economic growth.

Ease in doing business is the driving force behind the GDP growth, the consul said and explained various measures taken by his government under the leadership of Joko Widodo,which include Visa on arrival to aid tourism, tax holidays to set up industries and simplification in licence procedures to establish businesses without administrative hassles.

Agriculture, mining and energy, manufacturing and property sectors as potential areas for private equity with the country aiming at 35 Giga Watt new power generation to aid development by 2019, Consul Saut Siringoringo said.

From former president Suharto’s relationship with former Indian prime minister Jawaharlal Nehru, there is acceptance of Swami Vivekananda’s thoughts and Hindu culture and religious tolerance in 87 percent Muslim dominated nation, said Consul Saut Siringoringo. He highlighted many cultural issues while showing the largest statue of Hanuman and the reverence to deity Ganesh to draw similarities during the presentation.

Increase in number of tourists from India to beautiful Bali and other tourist destinations caught the attention of few businessmen in the audience, during the presentation.

He did not forget to mention the dense traffic in Jakarta streets and other major cities drawing comparison with Indian metros, the growing mall shopping culture, the liking towards Indian tele- serials by Indonesian people during an hour long presentation.

The 32nd Trade Expo Indonesia provides great avenues to Indian businessmen to explore trade and investment opportunities, he said and welcomed all to participate in the trade expo to be held in Jakarta between, 11-15 October, 2017. In addition, the biggest and most complete exhibition of gifts and housewares called INACRAFT 2017 has been planned during 26-30 April 2017 at Jakarta Convention Centre, Consul Saut Siringoringo added. He also shared his country’s trade exhibition calendar listing out all exhibitions during this calendar year in Indonesia on the occasion.

Aloysius Albuquerque of Summer Sands resorts in the city drew the attention of Consul to utilise opportunities the district provides in the field of Medical Care and Education and suggested student exchange programs to mark a beginning during the interactive session after Consul’s presentation.

Jeevan Saldahna, President, KCCI, welcomed the Indonesian dignitaries for the interactive meeting and Vice President Vatika Pai introduced the guests to the gathering. They included Joseph Sitepu, Consul (Economics) Consulate General of the Republic of Indonesia in Mumbai and another senior official from the Indonesian trade promotion centre apart from Consul General of Republic of Indonesia in Mumbai, Saut Siringoringo.

Praveen Kumar Kalabhav, Secretary, KCCI proposed a vote of thanks. Businessmen, traders and media personnel were present in the gathering.