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Malaysia's Petronas, Berjaya Plan Major India Expansion After Modi Talks

Prime Minister Narendra Modi's meetings with top Malaysian business leaders have yielded significant investment pledges. Petronas Group CEO Tengku Muhammad Taufik revealed plans to potentially double the company's exposure in India over five years, focusing on energy infrastructure. Berjaya Corporation's Vincent Tan expressed interest in bringing luxury hospitality to Delhi and Goa while exploring waste management projects. The discussions, covering semiconductors, renewables, and healthcare, underscore strong Malaysian confidence in India's economic trajectory and reform environment.

Key Points: Malaysian Firms Pledge Major Investments in India After Modi Meet

  • Petronas may double India investment in 5 years
  • Berjaya plans luxury resorts in Delhi, Goa
  • Focus on semiconductors, renewable energy, waste management
  • CEOs laud India's economic transformation since 2014
3 min read

PM Modi meets Malaysian business leaders; Petronas and Berjaya signal major investment expansion

Petronas to double India exposure, Berjaya eyes luxury resorts. Malaysian CEOs praise PM Modi's vision after high-level investment talks in Kuala Lumpur.

"The Prime Minister is quite visionary about what he wants India to be. - Tengku Muhammad Taufik, PETRONAS"

Kuala Lumpur, February 8

Prime Minister Narendra Modi, during his official visit to Malaysia at the invitation of Prime Minister Dato' Seri Anwar Ibrahim, held high-level discussions with the heads of Malaysia's most influential corporations.

The meetings underscored growing confidence in India's economic trajectory, with leaders from the energy, technology, and hospitality sectors pledging to significantly expand their operations in India.

Tengku Muhammad Taufik, President and Group CEO of PETRONAS, described the meeting as "wonderful," praising the Prime Minister's visionary approach to nation-building.

"The Prime Minister is quite visionary about what he wants India to be. We spoke about how he'd like to build India, focusing on infrastructure and innovation like technology," Taufik said.

He noted the significant economic transformation in India since 2014, labelling it a 'high conviction market.' In a major boost to bilateral energy ties, Taufik revealed that the Malaysian oil and gas giant is considering doubling its exposure in India over the next five years, with a focus on expanding infrastructure to serve the country's young population.

Vincent Tan Chee Yioun, Founder and Chairman of Berjaya Corporation, expressed his admiration for the Prime Minister's leadership. "He's made India economically more successful... and I'm very impressed with him," Tan remarked.

Known for developing world-class luxury resorts, Tan indicated that Berjaya is looking to bring its premium hospitality brand to New Delhi and Goa. Beyond tourism, he highlighted a strategic interest in India's sustainability sector, specifically in sanitary landfill waste management.

KS Pua, CEO of Phison Electronics, lauded PM Modi's "big ambition" for the semiconductor industry. Pua emphasised that Phison's strategy goes beyond just manufacturing.

"We aim to transfer our technology and help train local talent in India to design silicon, firmware, software, and AI solutions," Pua stated. He envisioned that within a few years, these efforts would allow India to host its own technology cluster, owned and operated by Indian companies.

According to an official press release from the Government of India, PM Modi highlighted initiatives and reforms undertaken to improve ease of doing business and create a predictable policy environment.

The Prime Minister encouraged further exploration in renewable energy, semiconductors, and healthcare, expressing optimism that the deliberations of the 10th India-Malaysia CEO Forum would lead to a new era of trade and investment ties.

The industry leaders, in turn, expressed strong confidence in the vision of a Viksit Bharat and expressed keen interest in expanding joint ventures with Indian counterparts.

- ANI

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Reader Comments

S
Sarah B
As someone working in tech, the Phison Electronics part is the most exciting. Technology transfer and training local talent in semiconductor design and AI is exactly what we need to move up the value chain. Hope this translates into real skilling programs on the ground.
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Priya S
Good to see focus on sustainable sectors too, like waste management. Our cities desperately need better sanitary landfill solutions. Hope Berjaya's plans for Goa and Delhi are eco-friendly and don't just add to the concrete jungle. Development should be responsible.
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Rohit P
All these announcements are great, but the proof will be in the execution. We've heard "major investments" before. Need to see these MoUs actually turn into factories and offices that hire people. The ease of doing business reforms need to reach the state level too.
K
Kavya N
Malaysia and India have strong cultural and historical ties. This economic partnership makes so much sense. More luxury resorts could boost tourism, but please also invest in preserving our heritage sites. Don't let Goa lose its charm!
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Michael C
"High conviction market" – that's a powerful statement from Petronas. It reflects the global shift in perception about India's economy. The focus on renewables in these talks is also crucial for long-term energy security.

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

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