Kuala Lumpur: Malaysia is always ready to meet the increasing demand for palm oil in India through the cooperation with major importing companies such as Emami Agrotech Ltd.
Investment, trade and industry minister Tengku Zafrul Aziz said Emami Agrotech is one of the largest palm oil importers in India, and during his recent meeting with its executive director Manush Goenka in the republic, the potential for the company to increase its palm oil imports from Malaysia was discussed.
"The company is a major player in the Indian edible oil and food products sector. India is the largest importer of edible oil worldwide and 59% of its imports consist of palm oil," he said in a posting on X today.
Yesterday, Prime Minister Anwar Ibrahim accompanied by Tengku Zafrul held a meeting with representatives from three major Indian companies namely Tata Consultancy Services (TCS), HCL Technologies (HCLTech) and Emami Agrotech in New Delhi.
SPONSORED CONTENT Hajiji says young business professionals' inputs needed to develop Sabah Kota Kinabalu: Chief Minister Datuk Seri Hajiji Noor said he welcomed inputs from young business professionals to assist in policy formulation. Read more HCLTech, one of the largest IT and technology companies in India, has been established in Malaysia for the past 26 years. It plans to expand operations with a focus on areas such as digital engineering, including data and AI. The expanded operations are expected to create more than 1500 highly skilled jobs for Malaysians.
Meanwhile, in a separate posting on X, Tengku Zafrul said that from 1,600 employees, TCS will double its number of employees.
"TCS has already opened its headquarters for Asean operations in Malaysia, and now it wants to expand its operations here," he said.
He added that among the planned projects is the opening of an AI Centre of Excellence and a Cyber Security Centre.
From 2021 to March 2024, the total number of approved digital investments amounted to nearly RM162 billion, and generated nearly 3,700 job opportunities.
"The investment, trade and industry ministry together with related ministries will always strive to facilitate quality investment in the digital economy, in line with the focus of the New Industrial Master Plan to position Malaysia as a regional generative AI hub," he said.
In a related development, Anwar said the visit to India was successful as Malaysia achieved potential trade of RM8 billion in the palm oil and palm oil-based products sector, chemicals and chemical products, oil and gas and aircraft spare parts.
* Follow us on Instagram and join our Telegram and/or WhatsApp channel(s) for the latest news you don't want to miss.
* Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available.