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India to boost bilateral trade with Malaysia

India is proposing that the bilateral trade target of US$15bil by 2015 with Malaysia be revised upwards amid the robust movement of goods between the two nations.

“While we had set a trade target of US$15bil by 2015, I am confident that we will be able to achieve this target definitely by 2013 if not this year.

“I will be proposing to my counterpart Minister (Datuk Seri) Mustapa Mohamed that we revise this target upwards,” Commerce, Industry and Textiles Minister Anand Sharma (pic) said.

India’s bilateral trade with Malaysia stood at nearly US$13bil (RM40bil) last year registering a growth of 34% over the previous year, he said at the India-Malaysia Chief Executive Officers Forum.

The vigorous bilateral trade between New Delhi and Kuala Lumpur is a result of various initiatives such as trade missions, exhibitions and briefings undertaken by both the Malaysian and Indian governments, boosted further by the Malaysia-India Comprehensive Economic Cooperation Agreement.

Indian investments worth US$1.2bil (RM3.68bil) in the manufacturing sector were implemented last year, with Malaysian investment in India recording US$2.8bil (RM8.58bil) in the same period.

(Source: thestaronline)


India, Malaysia