Bilateral trade between India and Malaysia is on an upswing with investment flow between the two countries rising despite global slowdown, Indian High Commissioner to Malaysia Vijay Gokhale said today.
The envoy urged Malaysian companies to invest in India as the country has opened up FDI in retail and aviation.
Bilateral trade between the two countries stood at USD 8.9 billion during January-September, a growth of 7 per cent over the same period last year, Gokhale told PTI.
He said Indian exports to Malaysia had increased at least by 26 per cent over last year at USD 3 billion, while Malaysian exports had grown less rapidly.
There have been Indian investments in Malaysia in the last few months, the high commissioner said, stating that India’s VLCC is acquiring a local brand in a deal pegged at about Rs 150 crore.