CHENNAI: Top industry and research bodies from India and Malaysia reached an understanding on Thursday to take their manufacturing to the next level of automation with the help of robotics, artificial intelligence, machine learning and Internet of Things.
An agreement to this effect was signed between engineering exporters' body EEPC India and the Malaysian Automotive, Robotics and IOT Institute (MARI) at the International Engineering Sourcing Show (IESS), which opened here.
Briefing media, MARI CEO Madani Sahari said the industry and trade bodies of the two countries would facilitate joint efforts for technology development and adoption, adding, both nations have a high level of capabilities in automotive sectors.
He said India can access the entire ASEAN market, leveraging Malaysia. The MoU (Memorandum of Understanding) between EEPC India and MARI recommends investment in robotics, automotive and related areas and would encourage and identify companies from their respective countries for joint ventures.
EEPC India Chairman Ravi Sehgal said, with the US and several countries in Europe becoming restrictive, India has to look for alternate avenues of trade and investment and Malaysia is the best fit in this direction.
As a Partner Country, Malaysia has fielded a strong presence at the IESS with over 100 Malaysian companies reaching out to their counterparts in India and other parts of the world.
Moreover, Malaysia has reached an understanding with EEPC India, the organiser of the flagship programme, supported by the commerce ministry, for being the Partner Country for three years. Over 400 delegates from 52 countries are attending the IESS -VIII, with 300 exhibitors. Tamil Nadu is hosting the event for the third time in a row.