The bilateral trade between India and Malaysia is expected to reach USD 25 billion within the next three years, according to BN Reddy, the Indian High Commissioner to Malaysia.
The trade relationship, currently valued at $20 billion, is expected to grow in the future with a focus on economic sustainability.
Speaking to local media, the Indian envoy stressed the importance of economic ties, saying: "In any relationship, the real sustenance comes from economic and trade relations. He stressed that India imports a range of goods from Malaysia, including LNG, crude oil and palm oil.
"The bilateral trade between India and Malaysia, which is currently at $20 billion, will go up to $25 billion in the next three years," said Reddy. He continued: "We import quite a few commodities from Malaysia, including palm oil, crude oil and LNG.
Reflecting on 65 years of diplomatic relations, Mr Reddy noted the ongoing efforts to realise the enhanced strategic partnership established during Indian Prime Minister Narendra Modi's visit to Malaysia in 2015. He emphasised that the relationship was all-encompassing and encompassed all aspects.
"We are in the process of now realising the enhanced strategic partnership that was established during the visit of Indian Prime Minister Narendra Modi in 2015, where it was decided that our engagement with Malaysia would be taken to newer heights, wherein covering the entire spectrum of the relationship," Reddy stated.
The Indian envoy noted that Malaysia is home to the second largest community of Indian origin and that the country's diverse linguistic and cultural ties naturally serve as a bridge for deeper engagement.
"In a nutshell, Malaysia has the second largest Indian-origin community. I would say there is a mini-India here, although Tamil speakers are the largest, but you also have the Malayalam, Telugu, Punjabi, Gujarati and Odiya speaking populations, which is a natural bridge for us to engage more deeply with Malaysia," he added.