Malaysian Minister for International Trade and Industry Mustapa Mohamed today met the Telangana Minister for IT, Municipal Administration and Industries K Taraka Ramarao here and discussed possibilities of cooperation in various sectors in the state, according to an official release.
With eight percent of the Malaysian population consisting of people of Indian origin, synergy is possible with Malaysia, he said.
Ramarao explained about the new industrial policy and the incentives provided by the government for setting up industries.
The industrial policy of the state promises uninterrupted power, dedicated water supply and right to single window clearance, the Minister said.
KTR said the state has a huge land bank for industrial use and it has set aside 2.5 lakh acres of land for setting up new industrial units.
He further said Amazon, Google, Microsoft and Novartis have set up their campuses here.
KTR sought the cooperation of Malaysia in setting up industrial parks, education, innovation, food processing and services sectors.
The Malaysian minister assured that his government would work closely with the Telangana government on T-Hub (incubation centre for startups) to create opportunities for young people.
India is the fastest growing economies in the world, he said recalling that the International Monetary Fund (IMF) has endorsed Centre's policies and rated the country as a rising star.