An India Business Forum has been launched here to boost trade and investment between India and Indonesia.

The Indian Business Forum (IBF) is aimed at bringing together Indian businesses and professionals in Indonesia for a "concerted effort towards an enhanced economic engagement with Indonesia", according to a statement issued by the Indian embassy. 

The IBF will be a common platform for a cross section of companies and individuals working in Indonesia to fulfil the objective.

Nearly 150 Indian executives, entrepreneurs and professionals attended the launch held here Wednesday. 

Indonesia's Trade Minister Gita Wirjawan said India and Indonesia are yet to achieve the true potential of their economic partnership and such forums would benefit both the countries. 

Indian Ambassador to Indonesia Gurjit Singh said the forum was set up not only to act as a facilitator for increased and diversified trade but also to seek more investment. 

"In order to expand trade, India Inc present here will work through this forum with the embassy to find ways for new technology transfer and new investments," Singh said. 

Singh said the forum would look at new plans and visions and play a facilitating role with the "very friendly" government of Indonesia.