Malaysian Deputy PM urges country to learn economic transformation, vibrancy from India

Kuala Lumpur, Sept 7 (ANI): Malaysian Deputy Prime Minister, Muhyiddin Yassin, has urged his country to take lessons from India and adopt Gandhian principles on how to transform the economy and become more vibrant.

He said that India has put in place a set of reforms and liberalised its economy to ensure market efficiency and better response to the needs of the international business community.

"Thus, Malaysia should take cognizance from this in order to be able to leapfrog the nation," The Star quoted Yassin, as saying.

"As what Mahatma Gandhi said: 'We must be the change we want to see in the world'," he added.

Speaking at the launch of the Global Indian Festival 2010, Yassin said that both the countries are important economic partners and bilateral trade has improved from 1998 to 2008.

"Last year, trade with India amounted to US7.1billion dollars (RM 22.51billion), with exports valued at 4.8 billion dollars (RM15.21billion) and imports 2.2 billion dollars (RM 6.97 billion). From January to July this year, total trade with India amounted to 4.93 billion dollars (RM15.63bil), improving by 26.6 percent compared with the corresponding period last year," he claimed.

Till date, 95 manufacturing projects with Indian participation have reportedly been implemented with total investment worth 1.11billion dollars (RM3.52bil).

He further assured that Malaysia would do its best to encourage Indian businesses to consider the country as a strategic commercial destination. (ANI)