High commissioner of India to Malaysia, B.N. Reddy, has set his sights on digital progress. He wants to bolster digital economic opportunities between India and Malaysia. The goal is to leverage Information Technology 2.0 (IT 2.0). This includes artificial intelligence, Internet of Things, and cloud computing.
He made these comments in Kuala Lumpur. Reddy spoke at a lecture hosted by the economic club of Kuala Lumpur (ECKL) and Star Media Group. His vision is wide-ranging. It includes everything from the digital economy to renewable energy.
The digital economy is a primary focus. Reddy spoke about it at length. He sees tremendous potential in sectors like semiconductors, skilling, and healthcare. These sectors could fortify the relationship between India and Malaysia.
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Talent development is vital. Reddy stressed this. Investments from both India and Malaysia are also crucial. These investments must meet the specific needs of each country’s digital economy. Reddy has high hopes for the future. He anticipates increased collaborations between startups. These could involve Malaysia’s research accelerator for technology and innovation and Indian companies. He suggests a mentor-mentee model.
There’s more. Reddy highlighted the possibility of a Malaysia-India digital council. This council could drive their shared digital economy agenda. Fintech collaborations might be part of the equation. These could include instant payment systems. Such systems have already spurred India’s growth.
The chairman of ECKL, Mohd Iqbal Rawther, weighed in. He believes Malaysia can learn from India. India’s advancements in the digital economy present opportunities for Malaysia. But this is not the traditional approach. Rawther mentioned the Madani Economy. He’s looking beyond old patterns like manufacturing and industrialization. He sees new frontiers.
Tourism is also a focus. India and Malaysia are strengthening ties through travel. Tourism Malaysia is courting Indian tourists with roadshows and murals. These events started in Chennai. They then moved to Bangalore, Hyderabad, Mumbai, and Ahmedabad. The Malaysian Association of travel agents (MATTA) is involved.
Tourism Malaysia has stats to back this up. India has been a top market source for Malaysia. It contributed 735,309 arrivals and RM3.6 billion in tourism expenditure in 2019. That’s an increase of 22.5% and 33.4%, respectively.
These roadshows have a clear goal. They aim to keep Malaysia at the forefront of Indian travelers’ minds. They also hope to steer the tourism sector to new heights.
In summary, the ties between India and Malaysia are growing. They’re focused on the digital economy, healthcare, and renewable energy. Information Technology 2.0 is a key part of the plan. It’s about collaboration and mutual benefit. Startups, investments, and tourism are all part of the mix.
Both countries see the potential. They’re ready to explore new frontiers. They’re eager to learn from each other. It’s a partnership that promises innovation, growth, and progress.
This news is based on Marketing Interactive.
