(MENAFN- KNN India)
New Delhi, Aug 20 (KNN) In a significant move to bolster economic relations between India and Malaysia, Union Minister of Commerce and industry Piyush Goyal addressed the 'Meeting of India-Malaysia CEOs Forum' in New Delhi on Monday.
The high-level gathering brought together business leaders from both nations to explore collaborative opportunities and strategize on enhancing bilateral trade.
Minister Goyal emphasised the need for deeper synergies across various sectors, including education, healthcare, infrastructure, tourism, digital economy, e-commerce, and clean energy.
"Growing together is our mantra," Goyal declared, urging business leaders to engage in productive discussions aimed at mutual growth.
The minister highlighted several key areas for potential collaboration. In the oil and gas sector, Goyal invited Malaysian businesses to participate in India's expanding drilling sector, noting the increasing opportunities for international players. This invitation comes as India opens up more avenues for foreign investment in this critical industry.
Education was another focal point of Goyal's address. He stressed the importance of Mutual Recognition Agreements (MRAs) to facilitate greater engagement between educational institutions. Such agreements could pave the way for enhanced academic exchange and collaboration between the two countries.
The electronics industry was identified as a sector where India could benefit significantly from Malaysia's expertise. Goyal called for enhanced cooperation, particularly among micro, small, and medium enterprises (MSMEs) from both countries. This collaboration could lead to knowledge transfer and technological advancements in India's growing electronics sector.
Renewable energy was highlighted as a crucial area for collaboration between Indian and Malaysian MSMEs. With both countries committed to sustainable development, joint efforts in this sector could accelerate the adoption of clean energy technologies.
Goyal also pointed to fintech and e-commerce as sectors with significant potential for joint ventures. As both India and Malaysia continue to digitalize their economies, cooperation in these areas could lead to innovative solutions and expanded market access for businesses from both countries.
The minister emphasised India's vast consumer market as a lucrative opportunity for Malaysian businesses. "I'm sure this huge demand that India offers businesses across the world is an opportunity that no Malaysian businessman would like to lose," he stated.
This underscores the potential for Malaysian companies to tap into India's growing middle class and expanding economy.
(KNN Bureau)
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