The MoU signed between EEPC India and MARii recommends investment in automotive, robotics and other related fields
Major industry and research organisations from India and Malaysia have come to an understanding to take manufacturing of the two countries to the next level of automation with the support of new and emerging technologies such as Internet of Things (IoT), artificial intelligence (AI), robotics and machine learning (ML).
In this regard, a memorandum of understanding (MoU) was inked between Engineering Export Promotion Council (EEPC) India and the Malaysian Automotive, Robotics and IOT Institute (MARii), an agency under Malaysia’s Ministry of International Trade and Industry (MITI).
Collective efforts tech development
Speaking about the development, Dato Madani Sahari, Chief Executive Officer of MARii, said that the respected trade and industry bodies of Malaysia and India would facilitate collective efforts for the development and adoption of technology.
Sahari said that both countries have the capabilities of higher level in automotive sector.
India can access the entire ASEAN (Association of Southeast Asian Nations) market, leveraging Malaysia, he added.
To promote investment
The MoU signed between EEPC India and MARii recommends investment in automotive, robotics and other related fields. The memorandum would also identify and encourage companies from the respective nations for creating joint ventures (JV), according to a statement by EEPC India.
Ravi Sehgal, Chairman, EEPC India said that the US and various countries in the Europe are becoming restrictive. Therefore, India has to look for alternative destinations of investment and trade, and Malaysia is the best avenue in this direction.