Indian Chamber of Commerce (ICC) organised an interactive session with H.E. Ina H Krisnamurthi, Ambassador of The Republic of Indonesia to India, to celebrate 75th Anniversary of Diplomatic Relations between India-Indonesia on Tuesday, 23rd July 2024 at The Oberoi Grand. Other notable dignitaries like Mr. Mahesh K. Saharia, Hony. Consul of The Republic of Indonesia, Kolkata & Chairman Indian Chamber of Commerce (North-East Regional Committee); Mr. Dadang Hidayat, Minister Counsellor (Economics) Indonesian Embassy; Mr. M. Iqbal Djamil, Trade Attaché Indonesian Embassy; Mr. Nugroho P. Pratomo, Director Indonesia Trade Promotion Center (ITPC) Chennai; Mr. Pradeep Sureka, Past President, Indian Chamber of Commerce; and Dr. Rajeev Singh, Director General, Indian Chamber of Commerce graced the event.
H.E. Ina H Krisnamurthi, Ambassador of The Republic of Indonesia to India, said, “The relationship between India and Indonesia has grown significantly, reaching a substantial $1.24 billion in 2023. However, we believe there’s untapped potential. That’s why I’ve brought my team to explore further collaborations. As a country with a long history intertwined with India, Indonesia aims to foster deeper business ties. In response to requests from the business community, we’ve increased direct flights to four Indian cities within two and a half years. We’re proud of establishing the Sister Hospital program as a platform for healthcare cooperation. Recognising India’s global leadership in pharmaceuticals, we aim to build stronger connections between our healthcare sectors. We believe in the power of people-to-people connections. To strengthen these bonds, we’ve initiated over 120 Memoranda of Understanding between universities. A notable example is the collaboration between Nalanda University and Jambi University on archaeological sites. India’s impressive economic growth rate of 8% and Indonesia’s emergence as a global economic player create a promising landscape. However, growth must benefit our populations. Together, India and Southeast Asia represent a massive market of over two billion people. Digital collaboration, particularly among youth, is crucial. While there’s increasing Indian investment in Indonesia, there’s scope for more, especially in sectors like healthcare and education. Healthcare requires a skilled workforce. We aim to collaborate with India, especially in rural areas, to develop healthcare systems. Our ministerial delegation will focus on specific areas like eye and knee surgery. Education is another priority. While university partnerships are growing, we need to enhance research collaboration. Beyond traditional sectors like coal and palm oil, we seek collaborations in digital technology, education and healthcare.”
Mr. Dadang Hidayat, Minister Counsellor (Economics) Indonesian Embassy, said, “Indonesia, the largest Southeast Asian country with over 270 million people, is well-positioned for investment due to its strategic location, market potential and growing economy, which is ranked 79th globally in terms of PPP. The nation has made significant strides in poverty reduction and is expected to maintain a 5% economic growth rate. It offers a business-friendly environment with a market-based economy and free foreign exchange, supported by abundant natural resources across various sectors. Recent democratic elections have bolstered its stability and attractiveness for investment. To transition from a finance-based to a production-driven economy, key investment areas include labor-intensive industries, digital infrastructure and sustainable energy. Foreign investors can establish Limited Liability Companies (LLCs) or Representative Offices, with a minimum capital requirement of US$700,000 and adherence to investment priority lists. Indonesia provides incentives such as tax holidays, allowances and support for labor and R&D, along with programs for employing foreign workers. Numerous ready-to-operate projects in manufacturing, infrastructure, agriculture, tourism and energy are available, with the government committed to supporting and fostering a favorable business environment.”
Mr. Pradeep Sureka, Past President, Indian Chamber of Commerce, said, “The 75th anniversary of diplomatic relations between India and Indonesia highlights our enduring friendship and commitment to strengthening ties between two of the world’s fastest-growing economies. Our deep historical and cultural connections from ancient maritime trade to shared epics like the Ramayana and Mahabharata, have laid a strong foundation for collaboration. Since establishing diplomatic ties in 1949, our relationship has flourished, with Indonesia becoming India’s second-largest trading partner in ASEAN and significant investments flowing in both directions. With a combined GDP nearing $5 trillion, we aspire to reach $40 trillion by 2047 and secure top-five global economy positions. Both nations excel in the startup ecosystem, ranking second and sixth globally for unicorns. Opportunities for collaboration in pharmaceuticals, renewable energy, defense and the digital economy are abundant. Recent milestones include the 17th India-Indonesia Joint Defense Cooperation Committee meeting and the inaugural India-Indonesia Defense Industry Exhibition, underscoring our growing defense and maritime security partnership.”
Dr. Rajeev Singh, Director General, Indian Chamber of Commerce, said, “The 75th anniversary milestone underscores our deep-rooted friendship and our shared vision for future growth. Together, we stand poised to enhance our collaboration and achieve new heights as two of the world’s fastest-growing economies.”
Mr. M. Iqbal Djamil, Trade Attaché Indonesian Embassy, said, “Both Indonesia and India saw notable economic growth in 2023, marked by rising GDP, population and per capita income, underscoring their growing global economic influence. Our trade relationship has significantly strengthened, with India emerging as one of Indonesia’s top trading partners. Indonesia exports key commodities like palm oil and coal to India, while India exports primarily manufactured goods. We are dedicated to expanding our economic ties and have signed several trade agreements.”
Mr. Mahesh K. Saharia, Hony. Consul of The Republic of Indonesia, Kolkata & Chairman Indian Chamber of Commerce (North-East Regional Committee), said, “Her Excellency highlighted the historical evolution of the India-Indonesia relationship and expressed optimism for its future growth. Her commitment to strengthening bilateral ties is evident in her efforts to establish direct flights between the two nations. In addition to improving air connectivity, various other areas of cooperation have developed significantly. Dr. Dadang Hidayat, a distinguished diplomat with extensive experience in the Indonesian Ministry of Foreign Affairs and profound regional expertise, makes him a vital contributor to this discussion.”
Mr. Nugroho P. Pratomo, Director Indonesia Trade Promotion Center (ITPC) Chennai, said, “Expo Indonesia, the largest annual trade exhibition organised by the Indonesian Ministry of Trade, will be held from 9th to 12th October. This premier event showcases diverse sectors across three main zones: food and beverage, manufacturing products and consumer goods and services. It features a broad range of products including fisheries, processed food, automotive, electronics, medical equipment and more. The Expo also covers franchising, commerce, logistics and digital services. With over 300 Indian delegates attending in person last year and over 400 online visitors registered in 2023, the Expo is a key platform for strengthening the $30.5 billion bilateral trade between India and Indonesia, offering opportunities for business matching, investment and government-to-business interactions.”
 organised an interactive session with H.E. Ina H Krisnamurthi, Ambassador of The Republic of Indonesia to India, to celebrate 75th Anniversary of Diplomatic Relations between India-Indonesia on Tuesday, 23rd July 2024 at The Oberoi Grand.){kind=link}