India, Feb. 6 -- The year 2025 marks a critical juncture in the trade relationship between India and Indonesia. In 2019, both nations ambitiously set a target of achieving $ 50 billion in bilateral trade by this year. While the current trade volume has reached $ 29.4 billion, the gap underscores the need for enhanced economic cooperation. Both nations share aspirations of becoming global economic powerhouses-Indonesia aims to become the fifth-largest economy by 2045, while India targets the third spot by 2027.

The foundation of India-Indonesia trade relations in contemporary times dates back to 1978, followed by the signing of a double taxation avoidance agreement in 1986, later revised in 2012. Bilateral trade has shown remarkable growt...