India, Indonesia Set $50 Billion Commerce Goal By 2025

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India and Indonesia on Saturday set an formidable USD 50 billion goal for bilateral commerce over the following six years as Prime Minister Narendra Modi and President Joko Widodo mentioned methods to deepen cooperation in various key areas together with economic system, defence and maritime safety.

The 2 leaders, who’re in Osaka, Japan for the G20 Summit, met within the morning and mentioned methods to spice up bilateral ties and improve cooperation in commerce and funding. In response to Ministry of Exterior Affairs spokesperson Raveesh Kumar, India and Indonesia set a USD 50 billion goal for bilateral commerce by 2025.

Commerce between the 2 nations in 2016 was USD 12.9 billion. It rose 28.7 per cent to USD 18.13 billion in 2017 with Indonesia’s exports to India reaching USD 14.08 billion and its imports from India standing at USD four.05 billion, in line with Indonesia’s Central Statistics Company.

Throughout his assembly between Prime Minister Modi and Indonesian President Widodo, the 2 leaders mentioned methods to deepen bilateral cooperation in commerce and funding, defence and maritime fronts. This was Modi’s first official engagement on the second day of the June 28-29 Summit.

“Starting Day 2 of the G20 Summit by assembly a valued buddy. PM Narendra Modi holds talks with President Joko Widodo on methods to deepen India-Indonesia cooperation,” the prime minister’s workplace tweeted.

In a tweet, Kumar mentioned, “Taking ahead the great strategic partnership. PM Narendra Modi had a productive assembly with Indonesian President Joko Widodo on margins of G20 Summit. Mentioned increasing cooperation in commerce & funding, defence, maritime, area & exchanged views on Indo-Pacific imaginative and prescient”.

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On Friday, Modi held bilateral and plurilateral conferences with many leaders, together with US President Donald Trump, Russian president Vladimir Putin and China’s Xi Jinping.


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