The latest Rubix Industry Insight report by Rubix Data Sciences highlights the robust economic and trade relations between Indonesia and India, with bilateral trade reaching USD 29.4 billion in FY2023-24. Indonesia is now India’s 8th largest trading partner, with India ranking as its second-largest buyer of coal and crude palm oil.
India’s exports to Indonesia amounted to USD 5.99 billion, led by mineral fuels and vehicles. Meanwhile, Indonesia’s cumulative investments in India reached USD 653.83 million across sectors like automotive, pharmaceuticals, and banking.
Indonesia’s economic growth, projected at 5.1% for 2025, reflects resilience amid global challenges. The country’s EV and battery manufacturing sectors are booming, driven by its position as the global leader in nickel production, expected to supply 62% of the world’s nickel by 2028. Strategic export bans on raw nickel and bauxite have attracted USD 30 billion in investments, primarily from China.
Sustainability also plays a key role in Indonesia’s growth story, with a 75% reduction in deforestation since 2019 and ambitious green energy projects supporting industrialization.
“Indonesia’s economic evolution is a story of resilience, agility, and strategic policy,” said Mohan Ramaswamy, Co-founder & CEO of Rubix Data Sciences.
The Rubix report provides critical insights into Indonesia’s economic landscape and its growing strategic partnership with India, presenting opportunities for businesses to capitalize on this dynamic market.