India and Indonesia: Trade Relations Set to Quadruple

India and Indonesia's bilateral trade, currently at USD 30 billion, may quadruple within a decade, according to Anindya Bakrie. Highlighting cultural ties, he emphasized collaboration in various sectors. Both nations aim to overcome trade barriers, with an eye on boosting defense cooperation and securing resources essential for global trade.

Bilateral trade between India and Indonesia, currently valued at USD 30 billion, has the potential to quadruple over the next decade, according to Anindya Bakrie, Chair of the Indonesia Chamber of Commerce and Industry (KADIN). Bakrie highlighted the strong cultural ties between the two nations as a key foundation for enhancing trade and investment relations.

Bakrie, who joined the Indonesian presidential delegation in discussions with Prime Minister Narendra Modi, stressed the importance of cooperation in areas like manufacturing, technology, and energy transitions. Both countries plan to address trade impediments through upcoming meetings, paving the way for expanded trade and defense collaboration.

Despite potential tariff challenges from the US, Bakrie expressed optimism about tapping into BRICS markets and fortifying Indonesia's ties with the US by promoting a free trade agreement. Indonesia's abundant resources and strategic location are seen as key assets in these efforts.

(With inputs from agencies.)