Jokowi calls on Indian investors to tap into Indonesia potential

Shortly after arriving on Monday in the Indian capital of New Delhi for a two-day state visit, the Indonsian president began making his sales pitch to Indian investors.
“Indonesia invites India to increase investment in pharmaceuticals, information technology and automotive (industry),” President Jokowi said after meeting with Indian Prime Minister Narendra Modi.
President Jokowi was in India from December 12 to 13 to meet with Modi and the Indian business community, before continuing on his journey to Iran.
Jokowi also said Indonesia expected to increase trade with India.
“Indonesia wishes to increase trade and diversify export products to India,” he said.
Investment Coordinating Board (BKPM) data said the realisation of investment from India to Indonesia between January and March was worth $6.69 million (Bt249 million). 
Indonesia makes up 43 per cent of India’s investment portfolio with Asean, having poured $57.2 million into the country last year.
On his first day in India, Jokowi conducted bilateral meetings with Modi and President Pranab Mukherjee, and attended a ceremony to mark the maiden flight of national flag carrier Garuda Indonesia’s new route connecting Jakarta and Mumbai.
Jokowi also delivered a message that “as two great democratic countries, Indonesia and India can contribute much to maintain regional and global peace and security.”
The visit was Jokowi’s first to India since taking office, reciprocating Modi’s predecessor Manmohan Singh’s tour of Jakarta in October 2013 and Vice President Mohammad Hamid Anshari’s visit in November 2015.
President Jokowi was to hold a meeting with 20 CEOs of Indian firms to discuss investment yesterday.
“We are seeking new opportunities in trade and investment,” said Foreign Minister Retno LP Marsudi on Monday.
Retno said Indonesia was looking to diversify exports beyond crude palm oil (CPO) and coal commodities to India.
“We want to diversify our export commodities, such as furniture. Other than that we also have commodities like gambir and areca nut,” she said.
According to the Trade Ministry, Indonesia enjoyed a trade surplus of nearly $9 billion in 2015, with two-way trade between Indonesia and India having stood at $14.4 billion.
The total trade from January to September reached $9.1 billion.
India is Indonesia’s fourth-largest trade partner, and the largest in the South Asian region.
After wrapping up his visit on Tuesday, President Jokowi is scheduled to continue his trip to Iran.
The trip to Iran is also reciprocal, with Iranian President Hassan Rouhani having participated in the 60th Asia-Africa Conference in Jakarta and Bandung in April |last year.
Energy was expected to top the agenda when Jokowi meets with senior government and business leaders yesterday.