VISAKHAPATNAM: TheMalaysia Automotive, Robotics & IoT Institute (MARii) is expecting to make India a key hub from whereauto componentsand services can be exported toASEAN countriesand the rest of the world, Dato Madani Sahari, CEO ofMARii, said.
In an exclusive interaction with ToI, Sahari—who is in India to meet with ministers and officials of the Ministry of Commerce and Industry—said that MARii, an agency under the Ministry of International Trade & Industry, would be offering partnerships to the Indian MSME sector in the auto components industry.
“Malaysia has a strong presence in the auto components industry, and it supplies to car makers in the United States, Europe, Japan and China. We are hoping that Indian MSMEs will join with Malaysian companies to get the latest technology and expertise so that they can become an export base to ASEAN countries and beyond,” Sahari said.
Sahari who also met with officials of EEPC India, the organisation that promotes engineering exports, said that Malaysia is a partner country for the International Engineering Sourcing Show (IESS). The 8th IESS will be held in Chennai, Tamil Nadu, from 14-16 March.
“Over 100 companies from Malaysia will be participating in IESS VIII in Chennai. We expect several joint ventures to be signed during the IESS,” Sahari said. “The Malaysian companies have built cutting-edge expertise in the design and manufacture of auto components, and they want to get work with Indian companies to make components both for the Indian and export markets,” he said.
Apart from auto component manufacturers, a delegation from Perusahaan Otomobil Kedua, or Perodua, one of the two Malaysian government-owned car companies, would also be attending IESS VIII.
Malaysia is the third largest trading partner in ASEAN other than Indonesia and Singapore and India is the largest trading partner for Malaysia from among the countries of the South Asia other than Singapore and China. India-Malaysia bilateral trade in 1998 was US$ 2.255 billion which has grown to $14.713 billion during 2017-18 which is a 552.46 per cent rise over a period of 19 years.
|Values in US$ Million||2014-2015||2015-2016||2016-2017||2017-2018|
|India’s Exports to Malaysia||5816.55||3706.83||5224.86||5701.56|
|India’s Imports from Malaysia||11117.74||9083.83||8933.59||9011.58|
|India’s Engineering Exports to Malaysia||2064.53||1343.86||2404.83||2012.44|
|India’s Engineering Imports from Malaysia||1749.51||1633.4||1468.2||1882.09|
|Engineering Trade Balance||315.02||-289.54||936.63||130.35|
Source: EEPC India