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India, SE Asia trade ties complement each other
An Indian research scholar said Wednesday India's business ties with Southeast Asian countries were complementary, rather than in head-to-head competition as it was with China
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An Indian research scholar said Wednesday India's business ties with Southeast Asian countries were complementary, rather than in head-to-head competition as it was with China.
Uttara Sahasrabuddhe, a political science lecturer with the University of Mumbai, said India and Southeast Asian countries, particularly Indonesia, had much to share, given their different business interests.
"For example, when it comes to IT (information technology), that is something that India can give, while manufacturing goods are something India can take from Southeast Asian countries," she said.
Uttara was speaking at the seminar "India's 'Look East' Policy: Significance for Southeast Asia", organized by the Centre for Strategic and International Studies (CSIS). India's ambassador-designate to Indonesia, Biren Nanda, was also present at the seminar.
India's "Look East" policy was promulgated in 1992 following the end of the Cold War and the collapse of the Soviet Union. Before 1990, India's main focus was on the then-Soviet Union, which kept it separate from economic growth in East Asia.
India has since pushed to improve its relationship with Southeast Asia by becoming a summit-level partner of ASEAN in 2002 and getting involved in some regional initiatives. India has been a member of the East Asian Summit (EAS) since December 2005.
Bilateral trade between Indonesia and India stood at US$6.5 billion in 2007. The two countries expect to boost trade to $10 billion in the next two years.
India, which has heavyweight computer software, light engineering and pharmaceuticals industries, set up a strategic partnership with Indonesia during President Susilo Bambang Yudhoyono's visit to the country in 2005.
