New Delhi : The progress by India in recent years, especially in infrastructure, solar energy, digitalisation and emerging technologies, make it an attractive hub for investment and trade, Prime Minister Narendra Modi said on Saturday, pitching for greater economic cooperation with Malaysia.<\/p>\n<\/p>\n
PM Modi in Malaysia said that trust has become India’s strongest currency (PTI)<\/p>\n
Addressing an Indian community reception in Kuala Lumpur alongside Malaysian Prime Minister Anwar Ibrahim shortly after his arrival in the Southeast Asian nation on a two-day visit, Modi noted that trust has become \u201cIndia\u2019s strongest currency\u201d and is seen as a \u201ctrusted partner for growth\u201d.<\/p>\n
\u201cNow, India is the world\u2019s second largest mobile manufacturer. Our defence exports have gone up nearly 30 times since 2014,\u201d he said. \u201cWe have built the world\u2019s largest digital public infrastructure\u2026Nearly half of the world\u2019s real-time digital transactions happen in India, thanks to our UPI platform.\u201d<\/p>\n
Modi said \u201cIMPACT (India-Malaysia Partnership for Advancing Collective Transformation) should be the guiding word for bilateral relations and noted India has played a part in creating Malaysia\u2019s first and Asia\u2019s largest insulin manufacturing facility. More than 100 Indian IT companies operate in Malaysia and India\u2019s Unified Payments Interface (UPI) digital payments system will come to the country soon, he said.<\/p>\n
\u201cYou would be happy to know that we will soon be opening a new consulate of India in Malaysia,\u201d Modi added.<\/p>\n
Anwar, who described Modi as his \u201cgreat friend from India\u201d, said in his address that India and Malaysia can be \u201cvoices that speak for dialogue over confrontation, for cooperation over narrow self interests\u201d. Renewed momentum in economic cooperation and movement of people has led to two-way trade rising to $19 billion in 2025, while the linking of UPI and Malaysia\u2019s PayNet system will make cross-border payments simpler for businesses, students and travellers, he said.<\/p>\n
\u201cMalaysia\u2019s established electronics eco-system and India\u2019s expanding market and design capabilities are natural complements. As global supply chains reconfigure, there is real potential to make our region a more resilient and trusted hub for high technology manufacturing,\u201d Anwar said.<\/p>\n
Both Anwar and Modi highlighted the role played by Malaysia\u2019s Indian community in healthcare, education, railways and government. Anwar said the Indian community had helped build the foundation of the Malaysian economy and played an integral part in \u201cbuilding a nation of diversity\u201d.<\/p>\n
Modi appreciated the contributions of the Indian diaspora to the progress of Malaysia and reiterated India\u2019s commitment to the welfare of Indian nationals in Malaysia. Recalling the history of the Azad Hind Fauj or Indian National Army in Malaysia, he paid respect to Netaji Subhash Chandra Bose.<\/p>\n
Modi was personally received at the airport by Anwar and the two leaders travelled in the same vehicle. On their arrival at the Indian community reception, they were welcomed by members of the diaspora. A cultural performance by 800 artists was a highlight of the event.<\/p>\n
Malaysia is home to more than 2.9 million people of Indian-origin, the world\u2019s third largest Indian diaspora. Among the special initiatives launched by India for their welfare are extension of the Overseas Citizenship of India (OCI) card to the sixth generation of Indian-origin people, and replenishing the Indian Scholarships Trust Fund with three million Malaysian ringgit for the benefit of Indian-origin students.<\/p>\n","protected":false},"excerpt":{"rendered":"New Delhi : The progress by India in recent years, especially in infrastructure, solar energy, digitalisation and emerging…\n","protected":false},"author":2,"featured_media":455472,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[28,101,79360,1205,212953,45045,14530,212952],"class_list":["post-455471","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-indian-diaspora","tag-malaysia","tag-modi-in-malaysia","tag-prime-minister-narendra-modi","tag-trade-deals","tag-trusted-partner-for-growth"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/455471","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=455471"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/455471\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/455472"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=455471"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=455471"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=455471"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}