ID :
187836
Sat, 06/11/2011 - 10:54
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https://oananews.org//node/187836
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MALAYSIA-INDIA TRADE JUMPS 30 PCT IN FIRST FOUR MONTHS
By Manik Mehta
MUMBAI, June 11 (Bernama) -- The two-way trade between India and Malaysia has continued its growth streak, recording an impressive 30.4 per cent rise in the first months of 2011 compared with the same period of 2010.
According to the Malaysia External Trade Development Corporation (Matrade) office in Mumbai, Malaysia's exports to India in the January to April period this year touched RM8.61 billion, up 29.1 per cent over the year-earlier period. (US$1=RM3.05)
Malaysia's imports from India for the four-month period amounted to RM3.51 billion, up 33.8 per cent in the previous year's corresponding period.
The balance of trade was heavily tilted in Malaysia's favour at RM5.10 billion.
In an interview with Bernama in Mumbai, India's financial capital, Matrade commissioner Norraslam Hadi Abdul Kadir said he saw "great potential" for increasing trade between the two countries.
"The two-way trade is poised to grow further. India is an important trading partner of Malaysia. India's growth potential is impressive and this forebodes well for our exports," he said.
Malaysia's main exports to India include electrical and electronics, crude petroleum, chemicals and chemical-based products, palm oil and metals.
"Malaysia's exports of electrical and electronic products posted a strong 22.8 per cent growth. We envisage this product group would continue to grow in the future, too," he said.
India's supplies to Malaysia, on the other hand, consist of chemicals and chemical products, manufactures of metal, electrical and electronic products, machinery, appliances and parts, iron and steel products.
"Many Malaysian companies subcontract designing and fabrication of machinery in India because India has a large pool of skilled labour," Norraslam pointed out.
The Matrade commissioner also said that India's huge market had excellent business opportunities for Malaysian companies who, he said, needed to be persevering "because India may appear to be a tough terrain at first but it also has excellent opportunities for those who can overcome the initial hurdles".
"You can learn from the Japanese, Taiwanese, South Koreans and others who have not only survived but also asserted their strong position in this huge market by sheer perseverance and adapting themselves to local market conditions," he argued.
Norraslam also referred to the "great momentum" to trade provided by the India-Asean Fair held in the earlier part of the year in New Delhi where 51 Malaysian companies participated under the Matrade umbrella.
"The Malaysian exhibitor contingent, along with the Thai contingent, was the biggest of all the Asean contingents at that fair. The sales potential from Malaysia's participation in this fair is estimated to be around RM54.1 million.A major part of the business potential is in the field of automotive spare parts and components, professional services etc," he maintained.
Meanwhile, Norraslam is currently busy making preparations for a marketing mission that will visit Chennai and Pune in November 2011.
"The mission will include 10 Malaysian companies from the automotive spare parts and components industry. There is also good potential for corporate matchmaking in this field and for developing synergies between Indian and Malaysian companies, since Indian companies also command a strong position in this field," he said.
But, as Indian business people dealing with Asian countries suggest, Malaysia could also benefit by organising an exclusive exhibition showcasing Malaysia's industrial products.
"Yes, such a show could be organised in Mumbai. We have something similar in mind," Hadi said, allowing a glimpse to the ideas he has about the project.
However, India's business environment, like in other Asian countries, is a unique blending of business, culture and cuisines. Malaysians could benefit by also paying attention to culture and cuisine while organising such an exhibition and making the big push on business in India.
Indian exhibitions, as one Indian management guru said, assume the profile of what is described as a "mela" (a trade fair with a strong festive character). In this context, Malaysia could also learn from the experiences of other countries that have not only won hearts but also the wallets of prosperous Indians.
"You cannot have a dry and strictly business-to-business environment in an exhibition which should also include entertainment and culinary elements to liven up the exhibition and make it more interesting and palatable for the visitors," says R.K. Taraporevalla, a Gujarati businessman who sources products from a number of Asian countries.
MUMBAI, June 11 (Bernama) -- The two-way trade between India and Malaysia has continued its growth streak, recording an impressive 30.4 per cent rise in the first months of 2011 compared with the same period of 2010.
According to the Malaysia External Trade Development Corporation (Matrade) office in Mumbai, Malaysia's exports to India in the January to April period this year touched RM8.61 billion, up 29.1 per cent over the year-earlier period. (US$1=RM3.05)
Malaysia's imports from India for the four-month period amounted to RM3.51 billion, up 33.8 per cent in the previous year's corresponding period.
The balance of trade was heavily tilted in Malaysia's favour at RM5.10 billion.
In an interview with Bernama in Mumbai, India's financial capital, Matrade commissioner Norraslam Hadi Abdul Kadir said he saw "great potential" for increasing trade between the two countries.
"The two-way trade is poised to grow further. India is an important trading partner of Malaysia. India's growth potential is impressive and this forebodes well for our exports," he said.
Malaysia's main exports to India include electrical and electronics, crude petroleum, chemicals and chemical-based products, palm oil and metals.
"Malaysia's exports of electrical and electronic products posted a strong 22.8 per cent growth. We envisage this product group would continue to grow in the future, too," he said.
India's supplies to Malaysia, on the other hand, consist of chemicals and chemical products, manufactures of metal, electrical and electronic products, machinery, appliances and parts, iron and steel products.
"Many Malaysian companies subcontract designing and fabrication of machinery in India because India has a large pool of skilled labour," Norraslam pointed out.
The Matrade commissioner also said that India's huge market had excellent business opportunities for Malaysian companies who, he said, needed to be persevering "because India may appear to be a tough terrain at first but it also has excellent opportunities for those who can overcome the initial hurdles".
"You can learn from the Japanese, Taiwanese, South Koreans and others who have not only survived but also asserted their strong position in this huge market by sheer perseverance and adapting themselves to local market conditions," he argued.
Norraslam also referred to the "great momentum" to trade provided by the India-Asean Fair held in the earlier part of the year in New Delhi where 51 Malaysian companies participated under the Matrade umbrella.
"The Malaysian exhibitor contingent, along with the Thai contingent, was the biggest of all the Asean contingents at that fair. The sales potential from Malaysia's participation in this fair is estimated to be around RM54.1 million.A major part of the business potential is in the field of automotive spare parts and components, professional services etc," he maintained.
Meanwhile, Norraslam is currently busy making preparations for a marketing mission that will visit Chennai and Pune in November 2011.
"The mission will include 10 Malaysian companies from the automotive spare parts and components industry. There is also good potential for corporate matchmaking in this field and for developing synergies between Indian and Malaysian companies, since Indian companies also command a strong position in this field," he said.
But, as Indian business people dealing with Asian countries suggest, Malaysia could also benefit by organising an exclusive exhibition showcasing Malaysia's industrial products.
"Yes, such a show could be organised in Mumbai. We have something similar in mind," Hadi said, allowing a glimpse to the ideas he has about the project.
However, India's business environment, like in other Asian countries, is a unique blending of business, culture and cuisines. Malaysians could benefit by also paying attention to culture and cuisine while organising such an exhibition and making the big push on business in India.
Indian exhibitions, as one Indian management guru said, assume the profile of what is described as a "mela" (a trade fair with a strong festive character). In this context, Malaysia could also learn from the experiences of other countries that have not only won hearts but also the wallets of prosperous Indians.
"You cannot have a dry and strictly business-to-business environment in an exhibition which should also include entertainment and culinary elements to liven up the exhibition and make it more interesting and palatable for the visitors," says R.K. Taraporevalla, a Gujarati businessman who sources products from a number of Asian countries.
