The bilateral trade between India and Indonesia is poised for a major boost and expected to top $45 billion by 2015 up from $20 billion in 2010, according to Lt. General (R) Andhi M.Ghalib, Indonesian Ambassador to India.

He said that opportunities abound for cooperation as was demonstrated by the signing up of 33 memorandums of understanding (MoU) for cooperation including business to business.

Of this, 18 MoUs have been inked by business entities. They entail a total investment commitment of over $16 billion in Indonesia.

For Indonesia, China and India are two attractive investment partners. Already companies like GVK group, have taken up the development of two airport projects in Indonesia and Reliance Industries had committed investment of about $5 billion there, he said.

The cooperation in the automotive sector has grown significantly with several Indian companies such as TVS Motors, Bajaj, Tata Motors and Minda Group either setting up their bases or planning to set them up. The Indonesian automotive companies are keen to take part in the Indian automotive growth story.

The trade agreement with Asean is also expected to boost automotive business between the two countries.

The availability of huge natural resources, including thermal coal has attracted several Indian power companies. Already coal is supplied to more than 1200 mw of generation capacity.

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