India, Indonesia set a $50-billion trade target to boost economic growth
Updated: May 12
As per the latest Sources, India is planning to restrict the Importation of some products from Malaysia, this plan is undertaken by the Government due to the allegation by Malaysian Govt. to Indian Govt. regarding the taking the action on J&K matter (Article 370). So now the point is that India was imported $1.38 billion worth of value Palm Oil & other Animal/Vegetable Oil from Malaysia in the Year 2018 so in that case who will be the exporter of this major product, which is in demand in India, so the answer is Indonesia
In the Year 2018, Bilateral trade between India and Indonesia during 2018-19 was $ 21.11 billion and in the context of achieving the target of $ 50 billion set by the leaders of both countries, if Indonesia will be the only exporter of Palm Oil to India then it will be more helpful to achieving this target. In the Year 2018 Indonesia exported $3 Billion value Palm Oil to India which is more than Malaysia so it’s a clear indication that Indonesia is going to cover the Palm Oil market of India. PALM OIL Importation under HS Code 1511 into India from Malaysia & Indonesia
So, it is clearly shown that Indonesia is the biggest Supplier of Palm Oil in terms of Volume and Values.
Now we need to study the bilateral trading between both countries so that we can easily understand that how far it will come to achieve this set target.
Here is the glimpse of total trade between Indonesia and India in 2018;
Top Exported Product from Indonesia to India
Top Imported Product from India to Indonesia
So, if you need to study these export-import Transaction details between Indonesia & India OR looking for Export-Import details from Indonesia then TradeImeX is an effective tool for you.
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