The event focused on identifying key sectors ripe for collaboration and investment
The Indonesia-India Business Forum 2024, an important event aimed at elevating economic ties between Indonesia and India, recently convened in Jakarta. 
This year's forum, particularly noteworthy for its celebration of 75 years of diplomatic relations between the two countries, was highlighted by the participation of Rajkumar Ranjan Singh, Minister of State for External Affairs and Education of India. The forum was organized on Wednesday (January 31, 2024) by the Embassy of India in Jakarta in collaboration with the Indonesia India Business Forum (IIBF), and the discussions centred around economic integration and the exploration of new opportunities for bilateral trade and investment.
"Pleased to attend the Indonesia-India Business Forum. 
Trade is an important pillar of our Comprehensive Strategic Partnership, with immense potential for further expansion. 
The event was more special by launching the joint logo marking the 75 yrs of India-Indonesia diplomatic relations," MoS Singh posted on social media platform X. 
The event focused on a comprehensive agenda, including analysing current trade policies, economic trends, and identifying key sectors ripe for collaboration and investment.
Indonesia has emerged as India’s second largest trading partner in the ASEAN region; it is also an attractive destination for Indian investment in the region. 
According to official data, there are about 30 Indian investments and Joint Ventures in Indonesia. As per Indonesian authorities, Indian investment in Indonesia is 995.18 million in 2215 projects during 2000-2018. 
Indian companies have made significant investments in infrastructure, power, textiles, steel, automotive, mining, banking and consumer goods sectors.
Discussions at the IIBF also covered strategies to overcome barriers to trade and investment, aiming to boost the Indian presence in the Indonesian market and facilitate diverse business initiatives. This exclusive event brought together a select audience of business leaders, policymakers, and industry experts to discuss the future of Indonesia-India economic relations.
The forum served as a platform for high-level dialogue, with a series of presentations and panel discussions shedding light on various aspects of the economic ties between the two nations. Topics ranged from the power of social media in business to economic and legal perspectives on doing business in Indonesia.
One of the event's highlights was the interactive panel discussion which provided valuable insights into local currency settlement systems, banking, and digital finance, demonstrating the potential for increased financial integration between the countries. This discussion, featuring prominent figures from the banking and digital finance sectors of both countries, offered concrete examples of how Indonesia and India can work together to enhance economic cooperation.
The Indonesia-India Business Forum 2024 represents an anticipated step forward in the relationship between the two countries, setting a new benchmark for collaboration. The event not only celebrated the long-standing friendship between Indonesia and India but also laid the groundwork for future economic partnerships. 
IIBF was launched in 2022 to increase the interaction between Indonesian and Indian business communities so that new business opportunities can be explored, initiated and acted upon.