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Indonesia Nod to $450 mn BrahMos Deal
The Morning Standard
|January 11, 2025
IN all probability, India is heading for another major defence export deal.
According to sources privy to the matter, Indonesia's defence ministry has sent a letter regarding a $450 million BrahMos deal to the Indian embassy in Jakarta.
Highly placed sources confirmed that India is also offering a loan to Indonesia from either the State Bank of India or any other Indian national banks. The specifics regarding this are being worked out.
As per the sources, the EXIM (Export-Import) Bank was initially scheduled to process the loan to Indonesia. However, this did not materialise.
It is pertinent to note that Indonesia had joined the BRICS, an intergovernmental organisation consisting of 10 countries, on January 6 last year. Indonesia's entry into the BRICS—which consists of Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran and the United Arab Emirates—paves the way for Indian Rupee-Indonesian Rupiah transactions.
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