Indonesian Political, Business & Finance News

Prabowo and Modi Seal 16 Deals: From Prambanan Temple to Supersonic Missiles

| Source: CNBC Translated from Indonesian | Politics
Prabowo and Modi Seal 16 Deals: From Prambanan Temple to Supersonic Missiles
Image: CNBC

The meeting between Indonesian President Prabowo Subianto and Indian Prime Minister Narendra Modi yielded 16 cooperation agreements, spanning from defence to cultural heritage. The two leaders agreed to expand their political partnership through high-level exchange visits and strengthen cooperation between institutions, including newly formed Parliamentary Friendship Groups. In the defence sector, both nations committed to enhancing cooperation in counter-terrorism and security, with a notable contract signed for the BrahMos supersonic missile defence system. They also agreed to support the development of ports in India’s Andaman and Nicobar Islands and Sabang in Aceh, recognising their strategic maritime significance. Economic ties were bolstered by commitments to accelerate the Indonesia-India Trade Agreement and enhance the ASEAN-India Trade in Goods Agreement. A key financial sector agreement involves the implementation of a cross-border QR payment system to facilitate more efficient transactions. In the energy sector, the two countries agreed to deepen cooperation on solar power plant development and nuclear technology capacity building. Health sector collaboration will focus on expanding capacity for doctors and nurses. Other notable agreements include a strategic joint venture between Steel Authority of India and PT Krakatau Steel, a memorandum on mineral cooperation, and a partnership to establish an Indian Institute of Management campus in Indonesia. A significant cultural agreement was also reached for the conservation and restoration of the Prambanan Temple complex.

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