‘$25 bn Indian investment in Indonesia in pipeline’

India,Sharma added,would be organising a major show in Indonesia in March next year during which the businessmen would showcase the investment and partnership possibilities.

During a meeting in New Delhi in January,he added,as many as 16 MoUs were signed. The current initiatives include negotiations for a comprehensive free trade agreement aimed at liberalising existing bilateral trade of $14 billion and taking it up to $25 billion by 2015. Securing access to Indian services,like education and health,for the 250 million people Indonesian market,is another objective of the present steps.

“India and Indonesia can do much more in the changing world,” Sharma had said at a reception hosted by the India-Indonesian Chamber of Commerce last night. He said that while Indian business houses have invested US 20 billion in sectors like steel,power and coal,Indonesia should allow access to Indian pharmaceuticals,which have made a name for themselves in the world market.

Replying to questions relating to problems in the pharmaceuticals sector,Trade Minister Mari Elka Pangestu said efforts would be made sort out the regulatory issues.