SBY looking for billions in deals on India trip
Indonesian President Susilo Bambang Yudhoyono is off on a business-heavy three day trip to India this week, looking to bring back US$15 billion in new investment deals and a raft of signed agreements.
On the agenda are meetings with Indian Prime Minister Manmohan Singh, Vice President Mohammad Hamid Ansari, and the chairwomen of both India’s major political parties, Sonia Gandhi and Sushma Swaraj. Yudhoyono will also be the chief guest at India’s Republic Day celebrations on 26 January. The business highlight is a planned 500-attendee event on Tuesday at which the President and hosts will sign 17 government-to-government, and 15 government to business, memoranda of understanding designed to streamline investment and trade deals between the two countries.
Trade volume between India and Indonesia has tripled over the past 5 years, from $4 billion in 2005 to $12 billion last year. India’s expected further investment will assist further with Indonesia’s grand plans to upgrade its infrastructure and develop the resources sector.
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