Sunday, November 3rd, 2024

Piyush Goyal invites Malaysian companies to invest in India’s oil, gas and electronics sectors


Union Commerce and Industry Minister Piyush Goyal stressed the importance of strengthening business cooperation between India and Malaysia during the ‘India-Malaysia CEO Forum Meeting’ held in New Delhi.

Addressing the gathering on Monday, Union Minister Goyal highlighted several areas where the two countries can collaborate more deeply, thereby expanding their trade and business ties. The forum provided a platform for business leaders from both countries to explore mutual opportunities and discuss strategies to boost growth.

Goyal highlighted the potential for greater synergies between Indian and Malaysian businesses, especially in sectors such as education, healthcare, infrastructure, tourism, digital economy, e-commerce, and clean and sustainable energy.

They stressed the importance of joint efforts in these areas to further strengthen the partnership between the two countries.

Goyal said, “India and Malaysia should explore deeper cooperation in many areas to strengthen their partnership. Moving forward together is our mantra. We hope that the business community of both sides will have an interesting discussion and we can move forward together in all these areas like trade, tourism, technology, investment, let us consider moving forward together.”

In his/her address, Goyal also highlighted India’s progress in the oil and gas sector and invited Malaysian companies to take advantage of the immense opportunities in these sectors. he/she pointed out that India is rapidly opening up its oil and gas drilling areas, creating many opportunities for international players.

“India is also opening its doors for oil and gas drilling, Malaysia should consider taking advantage of some of the auctions, tenders and opportunities in India,” the minister said.

Goyal further said that cooperation should focus on areas where one country has a comparative advantage over the other. he/she suggested that this approach could significantly enhance trade relations between India and Malaysia, leading to mutual development and growth.

“Our academic institutions can do a lot of good work, MRA (Mutual Recognition Agreements) will be a way for greater engagement and support to each other’s industries,” Goyal said.

The Union Minister also highlighted the electronics industry as another area where India can benefit from Malaysia’s expertise. he/she called for enhanced cooperation in this sector, especially between the Micro, Small and Medium Enterprises (MSMEs) of the two countries.

“We can also expect greater cooperation in the electronics industry and our micro, small and medium enterprises should definitely cooperate in sectors like renewable energy, fintech, e-commerce, infrastructure, healthcare and skill development,” Goyal said.

Goyal highlighted the immense economic potential that the Indian market holds, which he/she suggested could be highly lucrative for Malaysian businesses. he/she emphasised that India’s huge consumer base presents attractive opportunities for businesses from around the world, including Malaysia.

“I am confident that this huge demand that India is offering to businesses across the world is an opportunity no Malaysian businessman would want to miss,” he/she added.

The India-Malaysia CEO Forum meeting proved to be an important opportunity for the two countries to strengthen their business relations.



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