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India to invest more in Indonesia

India to invest more in IndonesiaSurabaya (Indonesia), March 15 - India would like to expand bilateral business and trade relations by investing more in Indonesia, Indian Ambassador Gurjit Singh said here at a business roundtable where opportunities in various sectors like infrastructure, mining, energy, oil and gas, and food processing were discussed.

Singh met Soekarwo, governor of East Java province, and said that the focus was on investment, capacity building and transfer of technology. He added that Indian companies are keen to invest more in Indonesia, said a press release.

The ambassador led a 14-member India Business Forum delegation to Surabaya, capital of East Java, and Indonesia's second-largest city.

The meeting was followed by a business roundtable where the Indian delegation made presentations on various sectors of interest to East Java, like infrastructure, power and IT.

In its presentation about potential of investment in East Java, the Investment Board mentioned about opportunities in various sectors, like infrastructure, mining, energy, oil and gas, geothermal, automotive parts, food processing, chemical, metal and machines, electronics.

Ambassador Singh said that several Indian companies have already invested in East Java.

He asked the Investment Board to provide more details of the infrastructure projects for clarity on the terms of investment. He said that the need of the hour is to set up manufacturing base for value addition. (IANS)