Reply #44: Calling India

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http://www.thejakartaglobe.com/investment/calling-india/437228

Indonesian companies are increasingly looking to India as the next big market. Since liberalizing its economy two decades ago, India has emerged as the second fastest growing economy in the world and a vast market for Indonesia’s natural resources as well as manufactured goods.

When Sinar Mas Asian first entered the Indian market in 1996, the country was taking its first few steps towards liberalizing its economy. The Indian government had identified paper as a priority sector and Sinar Mas answered that call by establishing a factory in Pune, just outside Bombay.

The giant Indonesian pulp and paper producer ended up selling the factory in 2001 but that did not end its relationship with the country. In fact, the company kept in touch with its customers and in 2003, another window of opportunity opened up when Trade Minister Mari Pangestu paid a visit to New Delhi and initiated bilateral trade links between the two Asian economies.