India and Indonesia are neighbors. The Andaman Nicobar islands in India and Indonesia share a common maritime border. References to the relationship between countries can be found in ancient texts. There are cultural connections between India and Indonesia. After independence, India and Indonesia started in 1951. In 1955 the countries were one of the first members of the non-aligned movement (NAM). India and Indonesia signed a bilateral treaty in 2011 worth billions of dollars to double the amount in 5 years.
India is the 5th largest export destination for Indonesia. Indonesia is India’s second-largest trading partner in ASEAN. India and ASEAN countries are working to improve trade relations and corporations. Negotiations are on to reduce import data and increase trade.
The import and export data is collected from the custom ports in India and Indonesia. The data is taken from the bill of lading or shipping manifest submitted from the customs authorities. The data has information such as:-
India Indonesia export data shows the export of goods between the two countries was 4.3 billion USD in 2019. Export data collected for the last ten years revealed that exports touched a high of 6.5 billion USD in 2011. The lowest exports of goods were seen in 2015 when exports dipped below 3 billion USD. Analysis of the export data revealed the major India Export to Indonesia are:-
Indonesia agreed to increase imports of Indian buffalo meat, sugar, and auto parts after India agreed to buy more palm oil. Indian sugar exporters are likely to benefit from the new agreement. 16 lakh tons of sugar were exported from India in 2019.
India Indonesia import data reveals that India imported 11.77 billion USD in 2019. The trends over the last ten years show imports were highest in 2017 when it crossed 14 billion USD in 2017. The lowest imports in the last ten years were in 2010 where it dipped below 10 billion USD. The data indicates India had a significant trade deficit with Indonesia. According to the import data, the major India import from Indonesia are:-
India granted import licenses to import 1.1 billion tons of refined petroleum from Indonesia. Indonesia is a leading importer of palm oil in the world. Palm oil accounted for 2/3rd of edible oil imported by India.
India has expressed concern with Indonesia in the large deficit with Indonesia. The government of India wants to expand the export between the two nations. India wants greater access to agricultural, pharmaceuticals, and manufacturing markets in Indonesia. The two nations are hoping to build on trade and increase investment, tax benefits, and taking their relations to greater heights.
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