The MoU will create a platform for India and Indonesia to exchange best practices, insights, and strategies aimed at boosting the mutual fund industries. The partnership will cover understanding and the need for a broad spectrum of areas, including requirements for regulatory reforms, governance standards, essential investor protection steps, data analytics, research, product innovation, and risk management ensuring that both countries benefit from each other’s expertise and experiences.
As part of this historic event, AMFI hosted a round table for the visiting delegation of AMII, Indonesia, highlighting the key aspects of the Indian economy’s growth story, opportunities in the mutual fund sector, and the pivotal role of technology in driving the capital markets. The round table also explored emerging opportunities at GIFT City and emphasized India’s leadership in financial innovation and governance.
The prominent speakers in the event included:
- Amitabh Kant, Sherpa, G20 and Former CEO of Niti Ayog
- Anuj Kumar, Managing Director, CAMS
- Hanif Mantiq, Chairman of AMII and CEO of Star AM, Indonesia
- Mohamad Oki Ramadhana, Commissioner of Indonesian Stock Exchange (IDX)
- Marsangap P Tamba, Chairman of APRDI and PWMII and Commissioner of PT Principal AM, Indonesia
“India’s collaboration with Indonesia aligns with the vision of Viksit Bharat 2047, set forth by Hon’ble Prime Minister Shri Narendra Modi, and Indonesia’s goal of achieving a developed economy by 2045, marking 100 years of their independence. This partnership resonates with India’s commitment to the leadership of the Global South, fostering economic collaboration and mutual growth,” said Navneet Munot, Chairman, AMFI“A strong capital market and a thriving asset management industry, as exemplified by the success of India’s mutual fund sector, will play a crucial role in achieving these milestones. This collaboration will lay the foundation for a sustainable and globally competitive mutual fund industry in both countries,” he added.”This collaboration signifies a crucial milestone in the growth of the mutual fund industry in both India and Indonesia. By working together, we are creating a unique opportunity to enhance understanding of the market led financial industry, standards of governance, boost investor confidence, and drive innovation. This MoU will facilitate knowledge exchange between the two countries through the industry bodies,” said Venkat Chalasani, Chief Executive, AMFI.
The AMII delegation, which includes senior officials such as the Commissioner of the Indonesian Stock Exchange, the Chairman of AMII, and top leaders from Indonesia’s asset management sector, will engage in discussions that promise to be instrumental in shaping the future of mutual funds in both countries. Through focused deliberations on industry governance, innovation, and operational excellence, the MoU will lay down a blueprint for progressive, cross-border cooperation.
“This is a pivotal moment in the global mutual fund landscape. By learning from each other’s regulatory frameworks and governance structures, we will be able to offer our investors greater security and innovation in the years to come. The collaboration with AMFI will serve as a model for strengthening the bond between the financial sectors of emerging markets,” said Hanif Mantiq, Chairman of AMII.
The initiatives under this collaboration will include workshops, research, and capacity-building activities designed to educate and empower investors in both India and Indonesia, thus promoting responsible investment practices.
The MoU between AMFI and AMII will also establish working groups to focus on key areas of mutual interest. These groups will drive initiatives and conduct regular reviews to assess the partnership’s progress, ensuring that the collaboration remains relevant and impactful for both nations. The partnership will serve as a gateway for further expansion, potentially leading to deeper ties between the two countries’ financial markets.
