1 day ago
India Growth Boosts Confidence as Indonesia Seeks Stronger Economic Ties
India’s economy has continued to grow strongly.
It grew by more than 7 per cent for the third year in a row, and by 7.8 per cent in the first quarter of this financial year.
Saurabh Garg said this performance is making other countries and institutions more confident in India’s future growth.
Indonesia also sees room to work more closely with India.
Its envoy, Mari Elka Pangestu, identified manufacturing, semiconductors, electric vehicles and critical minerals as possible areas of cooperation.
She also said the countries could do more trade, invest together, and encourage tourism and travel between their people.
She urged countries to build partnerships rather than respond to tariffs with protectionist policies.
India’s economy has grown by more than 7 per cent for a third consecutive year, according to Ministry Secretary Saurabh Garg.
India recorded 7.8 per cent growth in the first quarter of the current financial year.
Garg said international institutions are revising India’s growth projections upward, reflecting confidence in its policies and potential.
Indonesia’s special envoy Mari Elka Pangestu said India and Indonesia could expand cooperation in manufacturing, semiconductors, electric vehicles and critical minerals.
Pangestu called for stronger trade and investment ties, saying bilateral and ASEAN-India opportunities remain underused.
- Who
- Ministry of Statistics and Programme Implementation Secretary Saurabh Garg and Indonesia’s Special Envoy Mari Elka Pangestu.
- What
- Garg discussed India’s strong economic growth and rising international confidence; Pangestu outlined opportunities to expand India-Indonesia economic cooperation.
- Where
- Garg spoke to IANS in New Delhi. Pangestu also spoke to IANS; her location is not specified.
- When
- Garg spoke on Sunday; the article does not specify the date. India’s 7.8 per cent growth figure is for the first quarter of the current financial year.
- Why
- India’s growth performance is strengthening confidence in its prospects, while Indonesia sees scope for mutually beneficial trade, investment and sectoral partnerships.
Key facts
- India growth
- More than 7 per cent for the third consecutive year, according to Saurabh Garg.
- First-quarter growth
- 7.8 per cent in the first quarter of the current financial year.
- Indian official
- Saurabh Garg, Secretary of the Ministry of Statistics and Programme Implementation.
- Indonesian envoy
- Mari Elka Pangestu, Special Envoy for International Trade and Multilateral Cooperation.
- Potential cooperation
- Manufacturing, semiconductors, electric vehicles and critical minerals.
- Other proposed areas
- Trade in goods and services, investment, tourism and movement of people.
- Trade frameworks
- Pangestu said opportunities under bilateral arrangements and the ASEAN-India framework remain underutilised.
Quotes
Saurabh Garg
Secretary of India’s Ministry of Statistics and Programme Implementation
“India’s strong economic position is prompting several international institutions to revise their growth projections upwards. This reflects growing global confidence in the country’s economic policies and its growth potential.”
thehansindia.com
Mari Elka Pangestu
Indonesia’s Special Envoy for International Trade and Multilateral Cooperation
“If the US wants to use tariffs as an economic policy instrument, that is its decision. But other countries should not respond by adopting protectionist policies against one another.”
thehansindia.com
Sources
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