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Modi–Prabowo talks: Indonesia to buy India's Astra missiles, adopt EVMs, and expand BrahMos stockpile

AI Market Summary
India's and Indonesia's expanded cooperation highlights planned Indian investment in Indonesian steel, nickel, and rare-earth magnet manufacturing alongside deeper defense ties. For nickel, incremental downstream capacity and supply-chain localization can tighten near-term availability of exportable material while improving long-run output resilience, potentially supporting prices and raising sensitivity to policy, permitting, and project-execution risk in Indonesia.
Impact level
● Medium
Affected assets
NCCONICKEL2USD/USDT+0.71%
AI Insight · NCCONICKEL2USD/USDTAI Insight
● Neutral
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India and Indonesia held senior-level talks in Jakarta, announcing a broader partnership spanning defense and critical minerals. Indonesia plans to procure India's Astra air-to-air missiles and increase its BrahMos missile inventory. India, for its part, will invest in Indonesia to build manufacturing facilities for steel, nickel and rare-earth permanent magnets. The two sides also agreed to jointly develop Sabang Port, a strategic location near the Malacca Strait. Nickel was explicitly singled out as an investment focus, and efforts to localize and upgrade its supply chain are seen as providing near- to mid-term price support.
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