Deputy Minister of Trade (Wamendag) Jerry Sambuaga held a meeting with Indian businesses in Indonesia by attending The Langham Hotel, Jakarta, Tuesday (10/5). This step is expected to increase the trade value between the two countries to USD 50 billion. "This meeting is in line with the target of the leaders of the two countries to increase the value of Indonesia-India trade to USD 50 billion by 2025. It is hoped that the two countries can undergo economic recovery and become stronger," said Deputy Minister of Trade Jerry, Saturday (24/5/2022).

The meeting was also attended by the Indian Ambassador to Indonesia, Manoj Kumar Bharti, Director General of National Export Development Didi Sumedi, and Expert Staff to the Minister of Trade for Market Security Sutriono Edi.

In addition, there were 45 business actors who initiated introductions and expressed their concerns regarding business opportunities in Indonesia, such as obstacles to imports of raw materials and business permits. They also expressed their appreciation for the assistance of the Indonesian government for the sustainability of their business.

According to data from the Central Statistics Agency, Indonesia's exports to India in 2021 recorded a value of USD 13.2 billion, an increase of 27.85 percent compared to the previous year.

Its main export products are coal, palm oil, iron alloys, industrial monocarboxylic fatty acids, and copper ore. Meanwhile, Indonesia's main imports from India are semi-finished iron products, sugar cane or beets, peanuts, frozen beef, and iron alloys.

The Vice Minister of Trade explained that India is the 26th source of foreign direct investment (FDI) for Indonesia.

"India's investment realization in Indonesia was recorded at USD 49.5 million spread over 465 projects. The three largest sectors include the textile industry; building land, industrial estates, and business activities; as well as trade and repairs," said the Vice Minister of Trade.