On Thursday, Finance Minister Nirmala Sitharaman met Indonesia’s Vice Minister of Finance Juda Agung in Jaipur. The meeting took place alongside the BRICS Finance Ministers and Central Bank Governors gathering. Both leaders aimed to deepen economic ties between the two nations.
They talked about developing the financial sector and working together on international financial services. The discussion also covered how to set up and run financial centres, the India‑Indonesia Economic and Financial Dialogue, and boosting trade links. Local‑currency transactions were highlighted as a key area for cooperation.
The talks followed Prime Minister Narendra Modi’s recent state visit to Indonesia. Sitharaman said the visit had pushed the India‑Indonesia Comprehensive Strategic Partnership into its “golden era,” according to the ministry.
Both sides agreed to keep collaborating in multilateral institutions. They described each other as “two like‑minded members of the Global South,” underscoring shared development goals.
A major focus was on international financial services. They shared ideas on establishing and operating financial centres, drawing on India’s experience and Indonesia’s growing market.
The leaders also stressed the need to sustain growth amid global uncertainties. They highlighted structural reforms, ongoing infrastructure investment, and Digital Public Infrastructure as essential for macro‑economic stability.
The meeting was part of the broader BRICS finance forum, placing India‑Indonesia engagement within the context of cooperation among emerging economies.