Carve stake in India, firms urged

NEW DELHI: Malaysian companies have been urged to seize the opportunity and go big in the fast-growing construction and infrastructure sector in India.

Deputy Prime Minister Tan Sri Muhyiddin Yassin said the sub-continent was undergoing rapid growth and the emphasis of the Indian government was on infrastructure development, especially the construction of roads.

During his meeting with India’s Road Transport and Highways Minister Dr C.P. Joshi here yesterday, he was told that India needed 21km of roads to be built each day and a total of about 70,000km a year.

“This alone is worth hundreds of billions of ringgit,” he told Malaysian reporters covering his five-day working trip to India.

Muhyiddin said he had conveyed to Joshi that Malaysia was not only keen to work with India in infrastructure development but also wanted to sustain a long-term relationship.

“Joshi welcomed this and reiterated India’s willingness to work further with Malaysia,” he said after opening the Construction Industry Development Board (CIDB) office here yesterday.

Muhyiddin said the opening of the CIDB office was a manifestation of Malaysia’s interest to have a long-term presence in India.

“Many of our companies are already doing business here worth billions of ringgit.

“This CIDB office, the first in India, will serve as a focal point to help Malaysian companies in their dealings with the Indian government and its agencies, including holding discussions.”

“It will also serve as a link to our ministries and government agencies and also look into what kind of support we can give these companies,” Muhyiddin added.

He also said that the CIDB would look into a request by Malaysian companies in India at training skilled labour for them.

“This request was made to me during my meeting with Malaysian companies in Mumbai on Wed­nesday. India has the numbers in terms of manpower but lacks skilled labour.

“Perhaps an academy or training institute can be set up soon as a joint-venture project by the private sector here. The CIDB will look at the mechanics of the setting up such an institute,” he added.

At the same press conference, Works Minister Datuk Shaziman Mansor said that as of 2010, Malaysian companies had completed projects totalling about US$2.7bil (RM8.1bil) in India.

“The ongoing projects are worth about another US$2bil (RM6bil),” he added.