Malaysia and India strengthen relations with new digital opportunities

High commissioner of India to Malaysia, B.N.Reddy, is looking to strengthen digital economic opportunities for India and Malaysia with the introduction of Information Technology 2.0 (IT 2.0) as many sectors highlight a huge potential for stronger India-Malaysia ties. 

Reddy made these comments at a lecture organised by the economic club of Kuala Lumpur (ECKL) and Star Media Group. IT 2.0 will include the topics of artificial intelligence, Internet of Things and cloud computing, Reddy said. 

In his speech, according to a Facebook post by the High Commission of India in KL, Reddy covered topics ranging from of digital economy, semiconductors, skilling, healthcare to renewable energy. He stated that these sectors highlight the huge potential for stronger India-Malaysia ties and the scope to benefit from newer ways of engagement.

Don't miss: Tourism Malaysia markets to Indian tourists with murals and roadshows

According to Bernama, Reddy said that the key highlights for information technology are talent development and investments from both parties that meet the needs of the companies and requirements for each respective digital economy. He went on to express hope that there will be a boost in start-up collaborations between the likes of Malaysia’s research accelerator for technology and innovation and Indian companies, which can be harnessed using a mentor-mentee model.

Additionally, Reddy reportedly highlighted that there is a possibility of establishing a Malaysia-India digital council that can support their digital economy agenda, while creating opportunities for fintech collaborations. Part of these collaborations include the development of instant payment systems which have aided in propelling India’s growth.

The chairman of ECKL, Mohd Iqbal Rawther said that Malaysia can stand to learn from India when it comes to advancing its digital economy, as stated in Bernama's reports. 

He reportedly went on to add that the Madani Economy is looking at new frontiers as opposed to the traditional patterns of economic development such as manufacturing and industrialisation. This advancements from India, he said, are opportunities for Malaysia.

Other ways in which India and Malaysia have boosted their relations is through tourism. Earlier this year, Tourism Malaysia beefed up its efforts to lure in Indian tourists with roadshows and murals. The roadshows kicked off in Chennai, followed by Bangalore, Hyderabad, Mumbai and Ahmedabad with the Malaysian Association of travel agents (MATTA).

According to Tourism Malaysia, India stands and has been one of the top market sources for Malaysia and has contributed 735,309 (+22.5%) arrivals and RM3.6 billion (+33.4%) tourism expenditure in 2019. Apart from its objective to ensure Malaysia remains to stand out on top of the minds among Indians, the roadshow aims to provide a platform for the industry community to steer the tourism sector to greater heights.

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