KUALA LUMPUR: India is increasingly viewing Malaysia as a strategic gateway to expand its economic footprint in South-East Asia, using the country as a springboard to deepen trade and business engagement across the region, an academician says.
University of Nottingham Malaysia assistant professor of business economics Chee Meng Tan said India is seeking strategic partners to enhance its influence and visibility in South-East Asia, a region that has drawn heightened attention in recent years from major global players.
“I think India is looking for a strategic partner and it’s also trying to increase its influence and visibility within the region.
“If you’ve noticed for the past couple of months and a year or two, Malaysia and even South-East Asia has gotten a lot of traction from China, America and other various countries,” he said during Bernama World, titled Malaysia-India Relations: The Road Ahead, produced by Bernama TV.
In a related development, US President Donald Trump announced on Monday that tariffs on Indian goods will be reduced to 18% following a trade deal with Indian Prime Minister Narendra Modi, under which India has agreed to halt purchases of Russian oil and lower trade barriers on US exports.
Touching on trade relations, Tan said China remains Malaysia’s largest trading partner, followed by Singapore and the United States, accounting for a substantial share of the country’s total trade.
India, while still a moderate trading partner, has shown strong growth potential, with bilateral trade valued at about US$20bil (RM(90bil). — Bernama
