Indonesia-India discuss preferential trade deal
Indonesian Trade Minister Budi Santoso met with Indian Minister of Commerce and Industry Piyush Goyal, focusing on strengthening bilateral trade relations. The two nations aim to boost cooperation, improve market access, and increase investment. Santoso highlighted India as a key strategic partner in South Asia, emphasizing the potential for mutual growth in trade and investment.
Discussions took place at the BRICS Trade Ministers Meeting in Jaipur, where they reviewed the Indonesia-India Working Group on Trade and Investment (WGTI). Indonesia supports achieving 80% market access liberalization, as set in the ASEAN-India Trade in Goods Agreement (AITIGA), with a focus on simple, business-friendly outcomes.
By July 2026, Indonesia had submitted offers covering 57% of this target. In the first half of 2026, bilateral trade reached US$11.89 billion, with Indonesia exporting US$9.28 billion and importing US$2.60 billion. Indonesia's exports to India in 2025 were US$18.30 billion, with imports at US$4.84 billion, resulting in a US$13.46 billion surplus for Indonesia.
Key Indonesian exports to India include coal, palm oil, stainless steel, and industrial products, while imports from India include buffalo meat, peanuts, and vehicles.
Written by urgent.news from The Economic Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
