India-Indonesia Bilateral Agreements and Announcements
During the Prime Minister's visit to Indonesia, the two nations signed 14 Memoranda of Understanding and made six significant announcements covering diverse sectors of cooperation. The agreements span space exploration, pharmaceuticals regulation, steel supply chain cooperation, agriculture, maritime security, disaster management, telecommunications, research innovation, health workforce collaboration, election commission cooperation, and defense systems.
Key MOUs and Agreements
The most economically significant agreement is the strategic joint venture between Steel Authority of India (SAIL) and Pt. Krakatau Steel for establishment of a stainless-steel slab manufacturing facility in Indonesia. Another notable MOU involves Non-Ferrous Materials Technology Development Centre (NFTDC), Midwest Ltds., and PT PERMINAS on development of Rare Earth Magnets, which are critical components for various high-tech industries.
In the defense sector, two missile cooperation agreements were signed: Cooperation on BrahMos Missile System and Air-to-Air Missile Cooperation Agreement. The regulatory framework was strengthened through an MoU between CDSCO and BPOM on cooperation in medical products regulation, facilitating better pharmaceutical trade between the countries.
Significant Announcements
Among the six announcements, the establishment of an Indian Institute of Management, Bangalore branch campus at Singhasari SEZ, Indonesia represents a significant expansion of India's education exports. The supply of 100 tonnes of high-quality DWR 162 wheat seeds to Indonesia enhances agricultural cooperation, while the launch of Indonesia Open Network (ION), based on Open Network for Digital Commerce (ONDC) architecture, extends India's digital commerce framework to international markets.
Other announcements include India's assistance for conservation and restoration of Prambanan Temple Complex, deployment of Indonesian Liaison Officer in IFC-IOR, and commemoration of "Tagore-Dewantara Year of Cultural and Educational Diplomacy."