India-Indonesia Trade and Relations: A Growing Partnership

Introduction

India and Indonesia have shared strong cultural and trade ties for many years.

• Hinduism, Buddhism, and later Islam traveled from India to Indonesia.
• Indian epics like Ramayana and Mahabharata are a big part of Indonesian art and stories.
• Both countries have similar colonial histories and focus on independent foreign policies.

India-Indonesia Trade

Indonesia is a key trade partner for India in the ASEAN region.

• 3rd largest export and largest import trading partner of India in ASEAN in FY24.
• Total bilateral trade in FY24: US$ 29.39 billion.
• Indonesia ranks 36th in FDI equity inflows into India with US$ 658.64 million (April 2000 – September 2024).

India’s exports to Indonesia in 2023

• Detailed Export Breakdown (2023):

• • Mineral Fuels, Oils, and Distillation Products: US$1.91 billion.

  • Vehicles (excluding railway and tramway): US$769.86 million.​

  • Ships, Boats, and Floating Structures: US$612.56 million​.

  • Machinery, Nuclear Reactors, Boilers: US$512.48 million.​

  • Organic Chemicals: US$330.74 million.

• • Meat and Edible Meat Offal: US$307.21 million.

  • Oil Seeds, Oleaginous Fruits, Grain, Seed, Fruits: US$287.13 million​.

  • Iron and Steel: US$249.57 million​.

  • Articles of Iron or Steel: US$188.72 million​.

  • Sugars and Sugar Confectionery: US$169.63 million

​Also Read: Top Export Products from India in 2025

India’s Exports to Indonesia

India exported 3,794 commodities to Indonesia in FY24.

• Total exports: US$ 5.99 billion.

• Major exports (April-October 2024):
  • Engineering goods: US$ 1,270.03 million
  • Petroleum products: US$ 591.77 million
  • Organic and inorganic chemicals: US$ 307.99 million
  • Oil seeds: US$ 161.29 million
• Exports (April-October 2024): US$ 3.4 billion.

India’s Imports from Indonesia

India imported 2,085 commodities from Indonesia in FY24.

• Total imports: US$ 23.41 billion.
• Major imports (April-October 2024):
  • Mineral fuels, oils, and waxes: US$ 5,498.48 million
  • Animal/vegetable fats and oils: US$ 2,475.34 million
  • Iron and steel: US$ 1,172.70 million
  • Ores, slag, and ash: US$ 721.78 million
  • Precious/semi-precious stones: US$ 640.24 million
• Imports (April-October 2024): US$ 14.16 billion.

Also Read: Opportunity for Businesses in India Qatar Trade

Economic Relations and Investments

• Indonesia is India’s largest trading partner in ASEAN after Singapore.
• Total bilateral trade (2023-24): US$ 29.4 billion.
• Target for 2025: US$ 50 billion in trade.

Recent Developments

Defense and Security Cooperation

• November 2023: Raksha Mantri Rajnath Singh met Indonesian Defense Minister Prabowo Subianto to discuss:
  • Strengthening maritime security.
  • Expanding training and defense industry collaboration.
• 2022: RBI and Bank Indonesia signed MoU for financial cooperation.
• 2022: MoU signed for India-Indonesia security dialogue.
• 2022: MoU signed between Narcotics Control Bureau (India) & National Narcotics Board (Indonesia) for drug control.
• 2022: MoU between National Sugar Institute (India) & Politeknic Perkebunan LPP (Indonesia).

Military Exercises

• Samudra Shakti (bilateral maritime exercise).
• Garuda Shakti (joint military exercise).

Economic and Financial Cooperation

• July 2023: India-Indonesia launched Economic and Financial Dialogue (EFD) to:
  • Enhance bilateral investment.
  • Improve financial services and infrastructure.
• Real-time trading in local currencies will begin soon.

Conclusion

• India and Indonesia have 2,000+ years of historical ties.
• As maritime neighbors and strategic partners, they share strong relations.
• Bilateral trade, investments, and defense cooperation continue to grow steadily.
• Both nations have huge potential for future collaboration in trade, security, and economic development.

B2B Export Import Academy provides a lot of opportunities to export and import products from India; moreover, it helps businesses grow internationally by offering valuable guidance and support. We provide the opportunity to successfully do air shipment and sea shipment; in addition, we ensure smooth and reliable transportation for all your cargo needs. Indian business entrepreneurs and international traders have the best opportunity to expand their business overseas with the collaboration of B2B International Trade; in addition, this partnership helps in building strong global connections and increasing trade opportunities.

B2B Export Import Academy provides the best and most profitable platform for beginners and existing trade partners to create strong business trade relationships and accelerate their business; in addition, it helps them expand globally with the right guidance and support.

If you want to know more about our.

100% Practical Training Program.
Lifetime Support &️ Assistance for Shipments.
Learning➕️Earning Program.
On-line ➕️ Off-Line Training.
Training ➕ Trading Program & Job Assistance.
B2B Export Import Academy provides the opportunity.

To Learn & Execute Practically
Do your 1st successful shipment with expert’s guidance.
Opportunity to Live On-Ground Practical B2B Export Import Activities.
💹 India’s Largest Trade Hub.📍 Navi Mumbai, Vashi, India. ( Pan India Network )