The Jakarta Post
The Confederation of Indian Industry (CII) has announced that it plans to open an overseas office in Jakarta amid the growing interest of its members to invest in Indonesia and partner with their Indonesian counterparts.
The private-backed association was currently filling in the necessary paperwork to establish the office, which was expected to be fully operational by the end of May, CII’s designated chief representative for the Jakarta office, Sujata Sudarshan, said.
“Our basic agenda will be to understand the local regulations and laws, […] and to find out how Indian industries can come here,” Sudarshan told The Jakarta Post on the sidelines of the second India-Indonesia Infrastructure Forum on Tuesday.
At the moment, the CII was in the process of opening offices in emerging economies, including Indonesia, as India’s domestic industries were keen on having more of an overseas presence, she added.
India’s presence in Indonesia has multiplied over the past few years in spite of dominant investments from East Asian countries.
According to the Coordinating Investment Board, India’s direct foreign investment to Indonesia was US$286 million in 2017 from $57.18 million in 2015. (bbn)