Hyderabad Telangana

Malaysian delegation meets KTR

Malaysian delegation meets KTR

Malaysian Minister for International Trade and Industry Mustapa Mohamed met Industries Minister K. Taraka Ramarao here on Wednesday and discussed the possibilities of cooperation in various sectors in the state. 

The high level Malaysian delegation which accompanied the minister also exchanged views on various issues where the two governments could work with each other.

KTR while welcoming the delegation said that India and Malaysia shared long traditional ties and there is a cultural bond between the two countries.  With eight percent of the Malaysian population consisting of people of Indian origin, synergy is possible with Malaysia. He explained about the new industrial policy and the incentives provided by the government for setting up industries in the state.  He said Telangana is the most preferred destination for investment.  The industrial policy of the state promises uninterrupted power, dedicated water supply and right to single window clearance. Self certification and accountability are the salient features of the industrial policy, he added. 

The Industries Minister said the state has a huge land bank for industrial use and it has set aside 2.5 lakh acres of land for setting up new industrial units.  There are plenty of opportunities in textiles and infrastructure sectors to invest in the state and said the state is a leader in IT, life sciences and aerospace sectors with the presence of global giants in the state. He said that Amazon, Google, Microsoft and Novartis have set up their campuses in Hyderabad. He sought the cooperation of Malaysia in setting up industrial parks, education, innovation, food processing and services sectors.

The Malaysian minister said that Hyderabad is one of the most liveable cities and that he was impressed with the pace of change that is witnessed in the city.  He assured that his government would work closely with the Telangana government on T-Hub to create opportunities for young people. He said India is the fastest growing economies in the world and recalled that the International Monetary Fund (IMF) has endorsed government of India policies and rated India as a rising star. He said that he looked forward for more bilateral economic ties with Telangana being a very progressive and stable state of the Indian Union. 

Earlier, both the ministers had a courtesy meeting during which the Malaysian minister extended invitation to the Chief Minister and IT Minister to visit Malaysia.  The minister while accepting the invitation asked the Malaysian minister to specify the sectors in which Malaysia seeks investments so as to include those representatives of the industry in the delegation.

Principal Secretary, Industries and Commerce and Energy Arvind Kumar, Ahmad Syawal Hafriz Abdullah, Aida Safinaz Allias, Manick Raj, Commissioner Industries, Narasimha Reddy, MD, TSIIC and other officials were present on the occasion.  (INN)