NEW DELHI, April 24 (Bernama) — Malaysian companies are exploring opportunities in sectors such as automobile and pharmaceuticals in second tier cities in India, namely, Indore, Madhya Pradesh and Ahmedabad, in Gujarat.
About ten representatives from seven Malaysian companies are participating in a four-day marketing mission to the cities from today, and coordinated by the Malaysian External Trade Development Corporation (Matrade).
” The main objective of the mission is to explore possible business opportunities and expand export of Malaysia’s products and services to the second tier cities,” Matrade’s trade commissioner in Mumbai, Noraslan Hadi Abdul Kadir told Bernama.
In addition, the mission will also serve to expand trade and economic cooperation between Malaysia and India, while enhancing the utilisation of the Malaysia – India Comprehensive Economic Cooperation Agreement (MICECA) and the Asean – India Free Trade Agreement (AIFTA) for the benefit of both countries.
Such a mission, Noraslan said, would help establish direct links with business communities in India’s second tier cities, government agencies, trade associations and chambers of commerce, while enhancing Malaysia’s branding.
The programme will focus on pre-arranged business meetings.
To date, over 110 meetings with 77 Indian companies – 57 with 32 Indore-based companies and 56 with 47 Ahmedabad-based entities – have been arranged for delegates in the two-day business meeting session.
Indore is a major commercial centre for the state of Madhya Pradesh and the most densely populated city in central India.
With the bulk of its trade coming from small, medium and large scale manufacturing and service industries, its economic base and population size has also created development opportunities, for many other businesses oriented to local or more diversified markets.
Industries in Indore range from automobiles to pharmaceuticals and from software to retail as well as textile trading to real estate.
Ahmedabad is Gujarat state’s largest city.
Gujarat is also one of the most industrialised states, with 38 per cent of gross domestic product contributed by the secondary sector. It is known for sustained investor confidence, having received the highest number of investment proposals in India.