India, Indonesia bilateral trade to touch $25 bn by 2015

KOLKATA: Bilateral trade between India and Indonesia will touch USD 25 billion by 2015, the Indonesian Ambassador to India Ani M Ghalib said today.

Presently, bilateral trade between the two countries amounts to USD 12.7 billion, he said, adding that by the end of the current fiscal, this would rise to USD 13.5 billion, making the country the second largest trading partner of India in the ASEAN region.

Ghalib said that Indian companies were deeply entrenched in the coal mining sector in Indonesia.

He said the new Indonesian coal mining law will benefit Indian companies and prices of coal will not rise. Indian companies have expressed their unhappiness over provisions of the new law which will restrict the export of coal below a benchmark price notified by the Indonesian government.

Speaking at the Indian Chamber of Commerce here, he said that an Indonesia-India CEO summit will be held at Bali in the month of December.

Several Indian companies were expected to participate, he said.