Malaysia Key To ASEAN-India Economic Partnership - Indian Minister
KUALA LUMPUR, Sept 26 (Bernama) -- Malaysia plays a pivotal role in advancing the ASEAN-India economic track and will be central in shaping a resilient, connected and sustainable partnership for the next decade, said Jitin Prasada.
Jitin, who is India’s Union Minister of State for Commerce, Industry, Electronics and Information Technology, said Malaysia’s position as country coordinator for the ASEAN-India economic agenda, coupled with the recent launch of the Malaysia-India Digital Council (MIDC), underscores the depth of bilateral collaboration in cutting-edge areas such as artificial intelligence (AI), digital public infrastructure, and start-up ecosystems.
“The India-Malaysia Comprehensive Strategic Partnership opens new vistas for cooperation.
"We are working closely in semiconductors, renewable energy and payment systems interoperability, while also building on traditional sectors such as agriculture, petroleum, textiles, electronics, and engineering goods,” the minister said.
He said this in his keynote address at the Joint Luncheon Ceremony of the ASEAN-India Business Summit 2025 here today.
On the ASEAN-India relations, he said the region remains central to India’s Indo-Pacific vision, with Malaysia anchoring many of the initiatives to expand trade, investment and digital connectivity.
Jitin said ASEAN and India should look at collaborating in building trusted supply chains for electronics, pharmaceuticals, agri-products, and healthcare, among others, with over seven million people of Indian origin living in ASEAN member states acting as national economic and cultural bridges.
“We need to further rebuild these connections to enhance skills mobility, talent exchange, and innovation partnership,” he said.
He noted that ASEAN is currently India’s fourth-largest trading partner, while India ranks as ASEAN’s seventh, with bilateral trade in goods and services reaching US$131 billion in 2023.
"We know that much more can be achieved. The ongoing review of the ASEAN-India Free Trade in Goods Agreement (AITIGA) is a critical opportunity to address challenges.
"Businesses have pointed out the challenge of tariffs, non-tariff barriers, and market access," he said.
On digital connectivity, Jitin said India’s world-class public infrastructure, such as the Unified Payments Interface (UPI), Aadhaar-based identity, and advances in AI and cybersecurity, could offer ASEAN partners scalable, secure and inclusive platforms.
“Moreover, India’s UPI is already linked with Singapore’s PayNow — we aim to expand this interoperability across ASEAN, including with Malaysia,” he said.
Moving forward, Jitin urges all parties to include a review that delivers a balanced, transparent, and future-ready framework.
“True resilience lies not only in numbers, but also in ensuring the supply chain can be diversified, that investment flows both ways, and enterprises of all sizes find a level playing field.
"Governments can create enabling frameworks, but it is your vision, risk resilience and innovation that will make ASEAN-India economic partnership the defining story of the Indo-Pacific," he said.
-- BERNAMA