Business

India's Prime Minister Narendra Modi is set to meet with Malaysian Prime Minister Anwar Ibrahim on Sunday. The two leaders aim to strengthen trade relations and explore partnerships in areas like semiconductors and defense. This visit marks Modi's first trip to Malaysia since both countries upgraded their relationship to a comprehensive strategic partnership in August 2024. The meeting will occur at Anwar's official residence in Putrajaya, the administrative capital of Malaysia. During this meeting, several agreements will be signed, focusing on healthcare, national security, and labor, according to a statement from Malaysia’s foreign ministry. India’s foreign ministry announced on Thursday that both nations are working on a multi-layered plan to collaborate in the semiconductor industry. Additionally, India is looking to enhance defense cooperation and is discussing the potential sale of Dornier aircraft to Malaysia, along with the servicing and upgrades for Scorpene-class submarines and Sukhoi Su-30 fighter jets, as shared by a ministry official. Last year, Malaysia's total trade with India reached $18.6 billion, with Malaysian exports primarily consisting of palm oil and electrical products, while imports from India mainly included agricultural, petroleum, and chemical goods, based on government statistics.