Indonesia and India have officially strengthened strategic cooperation in the heavy industry and technology sectors. This agreement emerged during a bilateral meeting between President Prabowo Subianto and Indian Prime Minister Narendra Modi, held at the Merdeka Palace, Jakarta, on Tuesday (7/7/2026).
On the occasion, PM Modi highlighted the crucial importance of building resilient technology supply chains amid global market dynamics. According to him, the supply resilience of critical minerals and steel materials forms a main pillar for manufacturing competitiveness and technological development in the 21st century.
As a concrete manifestation of this commitment, both countries signed a memorandum of understanding (MoU) regarding collaboration in strategic minerals, the steel industry, and the development of rare earth metals. This initiative is projected to involve not only governments but also the private sectors of both nations to drive industrial downstreaming.
A concrete step in this partnership is evident from the formation of a strategic joint venture between the Steel Authority of India and PT Krakatau Steel. Additionally, a technical MoU was signed between the Non-Ferrous Materials Technology Development Centre, MIDWEST Ltd, and PT Perusahaan Mineral Nasional to accelerate the development of non-ferrous materials.
This synergy is expected to serve as a driving force for increasing the added value of national natural resources, while ensuring the sustainable availability of industrial raw materials for both countries in the future.
