India, Malaysia renew pledges to boost trade, collaboration

India's Prime Minister Narendra Modi and his Malaysian counterpart Anwar Ibrahim renewed pledges on Sunday to bolster trade and explore potential collaborations in semiconductors, defence and other fields.

Modi is on a two-day visit to the Southeast Asian nation, his first since the two countries elevated ties to a comprehensive strategic partnership in August 2024.

Anwar said the partnership included deep collaborations in multiple fields, including trade and investments, food security, defence, healthcare and tourism.

"It's really comprehensive, and we believe that we can advance this and execute in a speedy manner with the commitment of our both governments," he told a press conference after hosting Modi at his official residence in the administrative capital Putrajaya.

Following their meeting, Anwar and Modi also witnessed the exchange of 11 cooperation agreements, including on semiconductors, disaster management and peacekeeping.

Anwar said India and Malaysia would continue efforts to promote the use of local-currency settlement for cross-border activities and expressed hope that bilateral trade would surpass last year's $18.6 billion.

Malaysia will also support India's efforts to open a consulate in Malaysia's Sabah state on Borneo island, Anwar said.

-Reporting by Rozanna Latiff; Editing by Raju Gopalakrishnan/Reuters