New Delhi, July 6 -- Prime Minister Narendra Modi's visit to Indonesia is expected to focus on strengthening economic ties, even as bilateral merchandise trade has declined over the past three financial years.

According to a Rubix Data Sciences trade outlook report, bilateral goods trade fell from USD 38.8 billion in FY2023 to USD 24.8 billion in FY2026.

Trade and investment are expected to be key areas of discussion during Prime Minister Modi's July 6-11 visit to Indonesia. The visit follows the 8th India-Indonesia Joint Commission Meeting held in New Delhi last month.

The report said overall bilateral goods trade registered a compound annual growth rate (CAGR) of minus 14 per cent during the period, mainly due to falling exports and ...