India Has a Lot to Tap in Indonesia: Expert
The relationship between India and Indonesia has been gaining momentum in recent years, with both nations recognizing the immense potential for economic cooperation. As the world’s largest democracy and the world’s fourth-most populous country, India has a significant presence in the global economy. Similarly, Indonesia, the world’s third-largest democracy, has a growing economy and a large, young population. The synergy between these two nations can lead to a mutually beneficial partnership, and experts believe that India has a lot to tap in Indonesia.
Satish Mishra, the head of Arthashastra Institute in Bali, is one such expert who has been closely monitoring the evolving India-Indonesia relationship. In an exclusive interview, he emphasized the need for deeper economic engagement between the two nations. “The Indonesian market is open to all, and Indian businesses need a strategy to tap into it,” he said. “Indonesia is a growing economy with a large and young population, and India has a lot to offer in terms of technology, innovation, and expertise.”
Mishra pointed out that both nations have a lot to gain from each other. “India has a strong IT sector, and Indonesia has a large and growing digital economy. India can share its expertise in this area, while Indonesia can provide a massive market for Indian IT companies,” he explained. Similarly, India’s pharmaceutical sector can benefit from Indonesia’s large and growing healthcare market.
The Indo-Pacific region is increasingly becoming a major focus area for international trade and investment, and both India and Indonesia are well-positioned to take advantage of this trend. “The region is witnessing a shift in power dynamics, with the rise of India and Indonesia as major economic powers,” said Mishra. “Both nations have a unique opportunity to work together to create a more balanced and rising Asia.”
However, for India to tap into the Indonesian market, it needs to develop a clear strategy. “Indian businesses need to understand the Indonesian market and tailor their products and services to meet the needs of the local consumers,” said Mishra. “They also need to invest in building relationships with local partners and developing a strong distribution network.”
Indonesia, on the other hand, has a lot to learn from India’s experience in areas such as infrastructure development, financial inclusion, and innovation. “Indonesia has made significant progress in recent years, but it still faces challenges in these areas,” said Mishra. “India can share its expertise and best practices to help Indonesia accelerate its growth and development.”
One area where India and Indonesia can cooperate is in the development of infrastructure. Indonesia has a large infrastructure gap, and India has expertise in this area. “India has made significant progress in developing its infrastructure, and Indonesia can learn from its experience,” said Mishra. “India can help Indonesia develop its infrastructure, including its transportation network, energy sector, and telecommunications.”
Another area of cooperation is in the field of healthcare. Indonesia has a large and growing healthcare market, and India’s pharmaceutical sector can benefit from this trend. “India has a strong pharmaceutical sector, and Indonesia has a large and growing healthcare market,” said Mishra. “India can share its expertise in this area, while Indonesia can provide a massive market for Indian pharmaceutical companies.”
In conclusion, the relationship between India and Indonesia has immense potential for economic cooperation. Both nations have a lot to learn from each other, and there are several areas where they can work together to create a more balanced and rising Asia. As Satish Mishra, the head of Arthashastra Institute in Bali, said, “India has a lot to tap in Indonesia, and vice versa. The key is to develop a clear strategy and invest in building relationships with local partners.”
Source:
https://stratnewsglobal.com/neighbours/indonesia/india-has-a-lot-to-tap-in-indonesia-and-vice-versa/
