Anwar, Modi Discuss Trade And Investment Potential, Proposed IIT Campus In Malaysia

BUSINESS

From Arul Rajoo Durar Raj

RIO DE JANEIRO, July 6 (Bernama) -- Prime Minister Datuk Seri Anwar Ibrahim’s meeting with his Indian counterpart Narendra Modi, held on the sidelines of the 17th BRICS Summit here on Sunday (Monday morning in Malaysia), touched on trade and investment opportunities as well as the proposed establishment of an Indian Institute of Technology (IIT) campus in Malaysia.

“We discussed the significant potential for expanding strategic cooperation between Malaysia and India in various fields, including trade, investment, digital technology, and defence,” Anwar said in a statement released after their meeting.

He also welcomed Indian companies’ interest in investing in future-oriented sectors in Malaysia such as the digital economy, artificial intelligence, renewable energy and the aerospace industry.

“We are also committed to continuing to strengthen people-to-people relations through cooperation in the areas of culture, tourism, and education, which includes the proposal to set up the IIT campus in Malaysia,” he said.

IITs are a group of premier engineering and technology institutes in India.

Both leaders also emphasised the importance of ensuring regional peace and stability, and expressed support for just and peaceful resolutions to international issues such as Palestine and Jammu-Kashmir.

Anwar said Malaysia welcomed efforts to strengthen ASEAN–India relations with the ASEAN–India Summit scheduled to be held in October, in line with the spirit of cooperation for mutual benefit.

“May the strong ties between Malaysia and India continue to grow for the benefit and well-being of the people of both nations,” he added.

Anwar, who is also the Minister of Finance, described the meeting as brief but solid with meaningful content.

Both leaders last met during the 21st ASEAN-India Summit in Laos last year.

During the latest meeting, Anwar was accompanied by Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz. Also present was India’s Minister of External Affairs S. Jaishankar.

Malaysia is India’s third-largest trading partner in ASEAN, with total trade valued at US$20.02 billion in 2023-2024, accounting for about 17 per cent of India’s total trade with ASEAN. (US$1=RM4.22)

Anwar arrived here on Saturday to attend the BRICS summit hosted by Brazil at the invitation of President Luiz Inácio Lula da Silva.

Malaysia officially became a BRICS Partner Country on Jan 1 this year.

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