India has also proposed to offtake the existing surplus urea from Malaysia.
India and Malaysia on Saturday agreed to strengthen their strategic partnership to counter-terrorism and said that the fight against menace should go beyond eliminating terrorists and terror networs to take tough action against states which sponsor terror group and glorify terrorism. "The total investments from Malaysia stood at around $7 billion or more as against total investments of around $2.5 billion from the Indian side", the statement said. The President said, the Malaysian Prime Minister's visit comes at a time when India and Malaysia are celebrating the 60th anniversary of India-Malaysia diplomatic relations.
Based on several economic statistics and reports that showed Malaysia's enormous growth in various field despite ongoing challenges, Najib said, he was confident the nation was on track to achieve its goal of becoming a high-income nation within the next few years. Before that, while both India and Malaysia were under colonial rule, there was a visit to what was then Malaya by Jawaharlal Nehru, India's first Prime Minister, in 1937. India welcomed the initiative by Malaysia to expand the visa-free programme for Indian nationals from April 1, 2017, until March 31, 2018, under the Electronic Travel Registration and Information system.
MIGHT Technology Nurturing Sdn Bhd, a subsidiary of the Malaysian Industry-Government Group for High Technology, is also expected to ink a deal with the Andhra Pradesh Economic Development Board to set up a 40 hectare technology park in Amravati.
Both sides signed agreements on air services, sports, human resources, palm oil production and research, and technological development.
Earlier in the day, Razak was accorded a ceremonial welcome at Rashtrapati Bhavan here.
The PM further said that India's infrastructure needs and her ambitious vision of developing Smart cities match well with the Malaysian capacities.
"At a time when the Indian Government has committed nearly 1 trillion United States dollars towards spending on promotion of Infrastructure in India, we are engaging with Malaysia which has proven as the Infrastructure provider to the entire world".
The statement said meetings of the CEO's Forum would be held bi-annually, alternatively in India and Malaysia.
Malaysia is India's third largest trading partner in ASEAN.
He also spoke about his meeting with Tamil superstar Rajinikanth.
Najib met Vice President Hamid Ansari today.