Goa, June 2025 – In a significant step towards boosting bilateral trade relations, Mr. Erry Herjuno, Economic Counsellor at the Embassy of Indonesia in New Delhi, recently visited the Goa Chamber of Commerce & Industry (GCCI). During his visit, Mr. Herjuno engaged in detailed discussions with Mr. Sanjay Amonkar, Director General of GCCI, focusing on exploring new opportunities to increase trade between Goa, India, and Indonesia.
A Snapshot of Indo-Indonesian Trade Relations
Currently, the trade volume between India and Indonesia stands at a substantial USD 30 billion, with Indonesian imports valued at USD 24 billion and Indian exports at USD 6 billion. The major commodities imported from Indonesia include coal, iron & steel, and crude palm oil. This trade pattern results in a significant trade deficit for India.
Mr. Amonkar highlighted that India’s trade deficit with Indonesia is largely driven by the heavy import of coal and palm oil. To address this imbalance, India is strategizing to diversify its export portfolio by introducing more agricultural products such as potatoes, onions, and chilies to the Indonesian market.
India’s Strategy to Bridge the Trade Gap
The Government of India is actively pursuing initiatives to diversify its export base by expanding beyond traditional markets and products. Emerging sectors like green energy, medical devices, electric vehicles, and pharmaceuticals are being promoted to increase India’s export footprint in Indonesia.
The ambitious goal is to raise bilateral trade to USD 50 billion by 2025. Encouragingly, recent data reveals that trade between the two countries surged by 50% last year, reaching nearly USD 40 billion, signaling promising progress towards this target.
Invitation to Indonesian Trade Expo 2025
During the visit, the Indonesian delegation extended a cordial invitation to the Goan Export-Import (EXIM) industry to participate in the 40th Indonesian Trade Expo, scheduled from 15th to 19th October 2025 in Jakarta.
Highlighting the previous edition’s success, the delegation shared that business worth an impressive USD 7.46 billion was transacted with India, involving over 900 Indian buyers. This year, the Expo will focus on sectors such as logistics and paper, alongside traditional industries like coal, palm oil, and iron & steel. Additionally, the delegation pointed out promising opportunities in IT-related services in Indonesia, opening doors for Indian IT firms.
To facilitate deeper engagement, the Indonesian delegation provided the GCCI with a comprehensive booklet outlining key sectors with growth potential, encouraging Goan businesses to explore these opportunities.
Looking Ahead: Expanding Indo-Indonesian Economic Cooperation
The visit of Mr. Herjuno to Goa marks an important milestone in fostering closer trade and economic ties between the two regions. With mutual efforts to diversify trade portfolios and capitalize on emerging sectors, both India and Indonesia are poised to strengthen their partnership further.
The GCCI and local industries are keen on leveraging the upcoming Trade Expo and other initiatives to deepen collaboration, expand market access, and contribute to the shared vision of enhancing bilateral trade.
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