India and Indonesia are two largest emerging economies of the world: Vice President of India

He was addressing the India-Indonesia Business Forum, in Jakarta, Indonesiatoday, which was attended by the Vice President of Indonesia,  Jusuf Kalla and a large number of business people from India and Indonesia.

The Vice President said that engagement between India and Indonesia remains vibrant and economic and commercial cooperation occupies prominent position in the bilateral discussions.

He added that he found a strong desire in Indonesian leadership to expand commercial engagement with India.

The Vice President stated that the market liberalization of India in the nineties followed by calibrated economic reforms in the past decade has led to sustainable economic growth and socio-economic development and India's economy registered a growth of 7% in the last quarter.

India’s private sector has strengthened with the economic growth over the last two decades and it is keen to expand its global operations, he added. He further said that innovative spirit of Indian industry, backed by a strong government research and development push and a network of quality education institutions, make India and the Indian companies the most promising business partners today.

The Vice President emphasized that India has launched its flagship programme of 'Make in India' for the ease of doing businesses through simplification of existing rules and regulations.

Infrastructure development and energy security are key areas for cooperation for emerging economies like India and Indonesia, he added.

The Vice President said that India’s 'Act East Policy', as articulated by the Prime Minister of India, aimed at rapidly scaling up our cooperation with ASEAN member countries in crucial areas.