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BUSINESS

Malaysian companies invest US$7 billion in India as bilateral relations continue to flourish - Charge d’affaires

01/10/2022 02:59 PM

By Shakir Husain

NEW DELHI, Oct 1 (Bernama) -- Investments by Malaysian companies in India amounted to US$7 billion (US$1=RM4.63) as bilateral relations continued to flourish in different sectors, Malaysia’s charge d’affaires in New Delhi Amizal Fadzli Rajali said.

Malaysian companies in India operate in areas such as automotive, fast-moving consumer goods (FMCG), infrastructure, healthcare, oil and gas and renewable energy.

“To date, Malaysia’s FDI (foreign direct investment) inflows into India amount to US$7 billion,” he said at the Malaysian National Day reception here on Friday.

On the other hand, he said 150 Indian companies have invested US$3 billion in Malaysia in sectors such as biotechnology, chemicals, financial services, manufacturing, pharmaceuticals and the textile industry.

He said Indian companies are encouraged to expand their operations in Malaysia by taking advantage of the country’s hub position in the Southeast Asian region.

Meanwhile, Indian Minister of State for External Affairs Rajkumar Ranjan Singh, who was the chief guest on the occasion, hailed the growing bilateral relationship and called Malaysia one of India’s major partners in the region.

Singh said the two countries enjoy a “thriving friendship” and their cooperation is growing in various fields.

Those attending the Malaysian National Day reception included ASEAN envoys, diplomats from various missions, Indian government officials, business people and members of the Malaysian and local communities.

-- BERNAMA


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