PETALING JAYA: Indian Prime Minister Narendra Modi’s visit has set the tone for the next phase of the Malaysia-India economic partnership with focus on technology and healthcare, say officials.
Association of Private Hospitals Malaysia president Datuk Dr Kuljit Singh expected collaboration between both governments, such as in the area of traditional medicine, to cascade to private hospitals.
He said this would pave the way for the introduction of a greater variety in healthcare offerings to the Malaysian market.
“We believe that will also strengthen Malaysia’s position as a leading destination for medical tourism,” he said.
Asean-India Business Council alternate chairman and Federation of Malaysian Business Associations vice-chairman Nivas Ragavan said Modi’s official visit to Malaysia over the weekend marked a significant step forward in elevating bilateral relations under the Comprehensive Strategic Partnership forged in 2024.
“The visit resulted in the signing of multiple cooperation agreements and renewed commitments to deepen collaboration across trade, semiconductors, defence, healthcare, tourism and digital innovation demonstrating a clear intent by both governments to translate diplomatic goodwill into tangible economic outcomes,” he said.
With bilateral trade between the two countries already hitting over RM70bil, he said the most recent engagement sent a strong signal of confidence with Malaysia maintaining robust export strength in palm oil and electrical/electronic products.
Nivas said existing trade will be further supported by initiatives such as local currency trade settlement and expanded technology cooperation that created meaningful opportunities for joint ventures, supply-chain integration and regional market expansion.
“Equally important is the forward-looking digital and innovation agenda. The planned introduction of India’s Unified Payments Interface (UPI) in Malaysia, alongside expanding collaboration in AI, digital technologies and presence of more than 100 Indian IT companies generating local employment, highlights the transition of Malaysia-India ties toward high-value, knowledge-driven sectors,” he said.
Beyond economics, he said the visit also reinforced deep people-to-people and cultural bonds symbolised by high-level engagements.
Assoc Prof Dr Suseela Devi Chandran of the Faculty of Administrative Science & Policy Studies (FSPPP), UiTM Shah Alam, said the signing of the 11 MOUs during the Indian leader’s visit was a sign of trust and cordiality between both sides.
“It’s up to the policymakers from both countries to study the MOUs and work accordingly so that the outcome can be mutually beneficial.
“We have always had the upper hand on the economic front as India imports more from Malaysia, with this being the case over the last 15 to 20 year. But we can work with India on people-to-people connectivity, tourism and security cooperation,” she said, noting that the warm relationship between Modi and Prime Minister Datuk Seri Anwar Ibrahim has added a new dimension to bilateral relations.
Assoc Prof Suseela said aligning well with emerging powers and superpowers was a boost to Malaysia’s status as a middle power.
It was Modi’s second official visit to Malaysia since 2015 although he made a brief stopover here in 2018.
