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India and Indonesia announce launch of the “India – Indonesia Economic and Financial Dialogue” on sidelines of G20

Newdelhi:16/7/23:Ms. Sri Mulyani Indrawati, Minister of Finance, Indonesia, and the Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, here today announced the launch of the “India – Indonesia Economic and Financial Dialogue”. The platform, unveiled during the G20 Finance Ministers and Central Bank Governors (FMCBG) meeting, seeks to strengthen cooperation between the two nations and foster a shared understanding on global issues.

“The evolution of India’s ‘Look East Policy’ in 1991, followed by the ‘Act East Policy’, has facilitated a rapid development in our bilateral relations, particularly in the commercial and cultural fields,” Union Finance Minister Smt. Sitharaman stated. “Indonesia has emerged as India’s largest trading partner in the ASEAN region, with our trade seeing an eightfold increase since 2005, reaching an impressive $38 billion in FY 2022-23.”

The EFD Dialogue is poised to enhance collaboration on bilateral and international economic and financial matters by bringing together economic policymakers and financial regulators from both countries. Areas of cooperation inter-alia, include macroeconomic challenges and global economic prospects, bilateral investment relations, and cooperation in G20 and ASEAN matters. Recognising the potential of the digital economy, the two Finance Ministers also noted the potential of collaboration in the field of fintech for financial inclusion.

Given the similarities between India and Indonesia as fast-growing economies, and their active roles in multilateral organisations such as G-20, WTO, and East Asia Summit, this Dialogue promises to offer a unique opportunity for mutual learning and policy coordination.

The Finance Ministers concluded with a shared optimism that the EFD Dialogue will not only deepen the bilateral relationship between India and Indonesia, but also contribute to the broader economic and financial stability of Southeast Asia and the world.

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.

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