MALAYSIAN ENTREPRENEURS URGED TO TAP INTO INDIA'S SEMICONDUCTOR MARKET

KUALA LUMPUR, March 16 (Bernama) -- With Malaysia boasting a well-established semiconductor ecosystem, Malaysian businessmen were told to seize opportunities in this sector in the Indian market by expanding their facilities there and becoming part of India’s growth story, said the Consortium of Indian Industries in Malaysia (CIIM).

President of CIIM, Datuk Umang Sharma, in making the call, highlighted the promising business prospects in India for Malaysian entrepreneurs while pointing out that Indian Prime Minister Narendra Modi has been leading transformative projects, totaling a staggering US$185 billion within the first 75 days of the year.

“These projects include significant investments in semiconductor and railway infrastructure. As a result, India emerges as a lucrative market ripe for exploration,” he said in his welcoming speech during a networking dinner held in conjunction with CIIM’s Annual General Meeting held here on March 14, which was attended by the Indian High Commissioner to Malaysia, B.N.Reddy, and senior officials from government agencies. 

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The event was held to commemorate CIIM's imminent completion of two decades of establishment next year, serving as a platform to reflect on past achievements and chart a course for future endeavours.

Umang also urged Malaysian entrepreneurs to tap into emerging sectors such as renewable energy, petrochemicals, and startups in the Indian market. 

The Indian businessman stressed the pivotal role of tourism in fostering business investments, advocating for continued visa facilitation measures to attract more tourists from India to Malaysia.

He applauded Modi's Chalo India movement, aimed at encouraging Indian citizens overseas to promote tourism, further enhancing bilateral relations, while also urging Indian Airlines to resume flight operations to Malaysia. 

"With more Indian airlines flying in from various Indian cities into Malaysia, capacity building will increase to bring in more tourists, and ticket rates will also become more competitive, making travel more attractive," he added.

During the speech, Umang underscored CIIM's active role in organising and participating in over 52 events and meetings in the last two years, catering to the diverse needs of its members.

Notable highlights included business delegations, networking events, and engagements with key governmental bodies such as the Ministry of Investment, Trade and Industry, Malaysian Investment Development Authority (MIDA), and Talentcorp.

The recent Golf networking event, attended by 150 golfers from the government and business community, marked a significant milestone for CIIM.

-- BERNAMA