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Modi Invites Malaysian Companies To Invest In India
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Prime Minister Narendra Modi on Wednesday invited Malaysian companies to come to India in a big way, saying there are a "lot of opportunities" for them since he is giving high importance to the ambitious "Make in India" campaign.
Modi's call came during a bilateral meeting with his Malaysian counterpart Najib Razak at the Myanmar International Convention Centre on the sidelines of the 12th ASEAN-India summit on the second day of his ten-day three-nation tour of Myanmar, Australia and Fiji.
"I am giving lot of emphasis to makeinindia & want to invite Malaysian companies to come to India. There are lot of opportunities," Modi tweeted shortly after his meeting.
India has traditionally relied on investments from Japan, South Korea, Europe and the US.
Modi told Najib that Malaysia and India have worked together in the past and that the two countries can take this much further under his leadership.
Noting that Malaysia has worked a lot on affordable housing, Modi said its companies can work in this area since his government wants every Indian to have a home by 2022.
Modi and Najib also invited each other to visit their countries.
"Reformers meet, share thoughts on government and economic reforms," External Affairs Ministry Spokesperson Syed Akbaruddin tweeted, referring to the Modi-Najib meeting.
Scope for Trade Boost
With the total trade between the two countries being $12.3 billion in January to November 2013 period, against Malaysia-China trade of $95 billion, Indian officials said there is an excellent scope to augment the bilateral trade.
Today's meeting was the second interaction between the two leaders in three weeks.
Modi held a telephonic talk with Najib on October 21 during which he greeted the latter on Malaysia's election to UN Security Council as a non-permanent member for the 2015-16 term and expressed sympathy over the MH17 and MH370 air tragedies.
Najib had expressed gratitude for India's assistance in connection with these incidents.
Reiterating India's commitment to working for strengthening and expanding relations with Malaysia, Modi had appreciated the Malaysian PMO's Performance Management and Delivery Unit (PEMANDU) mechanism for monitoring of flagship projects and said he intends to incorporate its elements into India's systems.
Najib congratulated Modi on the emphatic victory in the parliamentary elections followed by Assembly elections in Maharashtra and Haryana.
"These results, he said, were reflective of the trust and confidence that the people of India had in the leadership of Prime Minister Modi to take India forward on the path of growth and prosperity," according to an official statement.
Najib said a strong and prosperous India was important for Malaysia and ASEAN.