The rapid pace of digitisation is something which we need to learn from India. E-commerce is flourishing in India and we want to replicate the same model in Malaysia, says Mohammad Iqbal Mohammad Noor, Minister, Economic Affairs, Embassy of Malaysia to India, in conversation with Priyanka Sharma of Elets News Network (ENN).
Historically, India and Malaysia have been close partners in many fields. How do you see the two countries collaborating in the development of MSME sector?
We have a rich history of collaboration in the fields of education, culture and economy. The development of Small and Medium Enterprises (SMEs) is very important for any economy in the world and for that, sharing knowledge, experiences and exploring possibilities of collaboration between our two countries is of immense importance.
India is moving towards digitisation at a rapid pace. What are the takeaways for Malaysia in this regard?
We envy India in this sector. The rapid pace of digitisation is something which we need to learn from India. E-commerce is flourishing in India and now we are talking about Industrialisation 4.0, which is moving away from the conventional way of doing business. We want to know and learn from the e-commerce model being adopted in India. For the growth of economy, we need to move towards digitisation and India is very good at that. A lot of businesses and people in Malaysia would like to learn the nitty-gritty of digitalisation from India.
Like in India, a number of Smart Cities are being developed in Malaysia too. How do you view the two countries collaborating in this sector?
A city is smart when the infrastructure is good, for example urban mobility, etc. A lot of Malaysian companies have earned good reputation in building robust infrastructure for Smart Cities. As India continues to work in transforming its urban areas, many Malaysian companies are looking forward to working in this sector. They have been participating in the bidding process of various projects in Indian states. India can greatly benefit from Malaysian companies in this sector and this could be one of our biggest contributions towards the development of India.
Do you offer any special scheme for Indian companies who want to work in Malaysia?
A lot of Indian companies are already working in Malaysia. We invite Indian companies to help us develop railway tracks in Malaysia. We get good investments from India in the pharmaceuticals sector, especially in the area of vaccine production. Some IT companies like Tech Mahindra are already working there. However, we want more Indian companies to work for us in Malaysia, especially in the field of IT.
A lot of incentives are offered to IT companies, for instance 70-100 percent tax exemption. In certain aspects, we do have customised incentives for such companies.
A huge number of Indian tourists visit Malaysia. What steps are you taking to enhance the tourism experience for Indians?
More than five lakh Indians visit Malaysia every year and a majority of them are honeymooners. We are working very hard to increase the number of Indian visitors to Malaysia. We have to open offices in Delhi, Mumbai and Chennai owing to a large number of visa applicants.
Recently, the number of flights between Delhi and Kuala Lumpur has been increased. We will continue to work hard with the Indian agents to expand tourism.
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