Joko Widodo made the comments in an interview with CNN to mark his first 100 days in power.
He said the policy also applied to two Australians on death row in Indonesia - Andrew Chan and Myuran Sukumaran - who have had appeals for clemency rejected.
Five foreigners and one Indonesian were executed by firing squad last week.
Indonesia has some of the toughest drug laws in the world. It ended a four-year moratorium on executions in 2013.
Joko Widodo has always insisted he will show no mercy towards drug criminals, saying they have ruined lives.
When asked by CNN why he was standing firm despite protests from countries around the world he said: "Imagine every day we have 50 people die because of narcotics, of drugs.
"In one year, it's 18,000 people who die because of narcotics.
"We are not going to compromise for drug dealers. No compromise. No compromise," he added.
He said it was up to the courts to hand down death sentences and said while convicts could still appeal to him "there will be no amnesty".
Australia opposes the death penalty and its government has repeatedly campaigned on behalf of Chan and Sukumaran. They were in a group of nine Australians arrested in Bali in 2005 with more than 8.3kg (18lb) of heroin.
Chan and Sukumaran have already had their final pleas for clemency rejected by the president's office.
When asked specifically if there would be relief for the Australians, Mr Widodo shook his head.
Last week, Indonesia executed convicts from Malawi, Nigeria, Vietnam, Brazil and the Netherlands as well as one from Indonesia.
It prompted Brazil and the Netherlands to recall their ambassadors in protest.
Australian authorities have threatened to do the same if Chan and Sukumaran are put to death.
Indonesia's president has said he will not compromise over death sentences given to convicted drug traffickers, despite international outcry.