India and Indonesia on Wednesday announced the signing of a Memorandum of Understanding (MoU) between Confederation of Indian Industry and KADIN to promote bilateral economic, trade and technological cooperation between the two nations.
The MoU was signed by the Director General of CII and the Vice Chairman of KADIN. Under the MoU, both countries will promote technological cooperation, exchange of information / visits on economic and commercial cooperation, support activities for trade promotion, suggest and recommend possible partners etc.
The CII has also announced a decision to open its first overseas office in Jakarta, Indonesia, with its representative from India.
Regular convening of the forum and expansion of business sectors as it could function as constructive measure to tap more opportunities and potentials in developing bilateral cooperation in trade and investment is the agenda of the MoU.
Along with this, an MOU between the Directors of Himalaya Drug Company and PT Kalbe Farma was signed to work towards establishing a joint venture company in marketing, establish research center and local manufacturing.
Prime Minister Narendra Modi will hold public events, including a community interaction with people of Indian origin and NRIs on Wednesday evening.
He will further attend the India-Indonesia CEO Forum with President Widodo.
Both India and Indonesia have warm and cordial bilateral relations. The two countries also share close cultural ties as well.
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