Kuala Lumpur, Feb 6 (NationPress) As Prime Minister Narendra Modi prepares for a two-day visit to Malaysia, Dato Ramesh Kodammal, Chairman of the ASEAN India Economic Council and a prominent Malaysian entrepreneur, emphasized the significance of this visit in strengthening bilateral relations.

Kodammal pointed out Malaysia's pivotal role within ASEAN and the expanding Indian diaspora, calling this trip a long-awaited chance to enhance bilateral ties, boost trade collaboration, and promote engagement in key sectors like digitization, artificial intelligence, and semiconductor manufacturing.

Here is the complete interview:

IANS: What is your perspective on PM Modi's visit to Malaysia?

Kodammal: The Government and the citizens of Malaysia are warmly welcoming Prime Minister Modi. His visit is long overdue, and there is considerable anticipation to meet him and listen to his address.

This visit presents a wonderful opportunity for Malaysia and India to elevate their relationship. Prime Minister Modi and India have transitioned their approach from Look East to Act East, which targets ASEAN nations with Malaysia as a crucial hub.

With around 2.8 million people, the Indian diaspora in Malaysia is one of the largest in the world, second only to the United States. Historically, Malaysia previously had the largest Indian diaspora. When we consider ASEAN as a whole, the Indian diaspora is substantial, and we share a close geographical connection.

The ties between ASEAN, Malaysia, and India have deep roots. The connection dates back to independence—India became independent in 1947, followed by Malaysia in 1957. Despite being ten years apart, the two nations share a history as former British colonies, and their relationship has thrived from those early days to the present.

Our historical ties trace back centuries to when Indian traders visited Malaysia and Malacca. This longstanding relationship has persevered through time and will continue to flourish.

IANS: From your entrepreneurial perspective, how do you view the trade between India and Malaysia?

Kodammal: The trade and cooperation between India and Malaysia have always been robust, and we aspire to enhance this further. The India-ASEAN and India-Malaysia business relationships have notably improved. In the fiscal year 2023-24, bilateral trade reached around $20 billion, with expectations for further growth.

India is progressively opening its markets, thus offering Malaysia increased trading opportunities. Initially, Malaysia's economy relied on commodities and agriculture. Over time, we transitioned into manufacturing and now find ourselves in an era influenced by global geopolitical shifts.

Malaysia is emerging as a key player in digitization and artificial intelligence, especially in microchip and semiconductor manufacturing. With India advancing in similar directions, we can collaborate to enhance trade in these vital technologies, which are essential for the younger generation's future.

We need to lay the groundwork now to ensure we reap the rewards in the decades to come. What lies ahead is uncertain, but together, we can progress.

IANS: As an Indian, what are your feelings regarding PM Modi's visit to Malaysia?

Kodammal: It brings immense joy that Modi ji is visiting. The Indian diaspora in Malaysia is ecstatic and eager to welcome him. Following his visit, we look forward to exploring how Malaysia and India can advance together.

Modi's current visit is particularly significant; I had the opportunity to meet him in 2015, and now he returns after 10-11 years. Numerous cultural events have been planned for his visit, and we anticipate around 15,000 to 20,000 people will gather to meet him—though with more time, we could have engaged even more.

The Indian diaspora in Malaysia is approximately 2.8 million, presenting a remarkable opportunity for Malaysian Indians to connect with the Indian Prime Minister after such a lengthy interval.