BY A STAFF REPORTER: In a recent development, Dr. Rajkumar Ranjan Singh Singh, Minister of State for External Affairs, emphasized the strong bilateral ties between India and Indonesia during his keynote address at the India-Indonesia Forum and Inauguration of India-Indonesia's 75 years of diplomatic relations.
He underscored that Indonesia has surpassed Singapore as India's largest trading Partner within ASEAN. Moreover, India is one of the largest trading partners of ASEAN. The bilateral trade between both nations stood at USD 38 Billion. R.K. Ranjan Singh also mentioned that the 'Act East' policy has generated unprecedented profits. He further highlighted India and Indonesia's stable and resilient growth rate in development and economy as both nations successively assumed the G20 presidency in the past two years. Along with this, both economies recovered vigorously despite recessionary pressures and geopolitical disruptions. According to Singh, total investments by Indian companies in Indonesia since 2000 is around USD 1.4 Billion. Similarly, Indonesian companies invested around USD 700 million in India's various sectors including agro and food, paper and packaging, IT and fintech, shipping, etc.
Furthermore, he mentioned potential areas of business cooperation between the two nations to achieve India's vision of 'Amrit Kaal by 2047' and Indonesia's 'Golden Indonesia Vision 2045' which essentially included Infrastructure and connectivity, energy transition, food security, healthcare, IT/digitalization, tourism/hospitality/entertainment/sports and other creative sectors.
As the Ram Mandir consecration took place on 22nd January in Ayodhya, Singh emphasized that the India-Indonesian ties are embodied in the Ramayana and Mahabharata epic.
The event took place at the Taj Mahal Hotel in New Delhi from 12:30 PM to 05:15 PM. Prominent figures from the business fraternity of India and Indonesia attended the ceremony.
Pleased to attend the Indonesia-India Business Forum.— Dr. Rajkumar Ranjan Singh (@RanjanRajkuma11) January 31, 2024
Trade is an important pillar of our Comprehensive Strategic Partnership, with immense potential for further expansion.
The event was more special by launching the joint logo marking the 75 yrs of 🇮🇳 🇮🇩 diplomatic relations pic.twitter.com/H5j3uZb6cu