NEW DELHI • Indian Prime Minister Narendra Modi held talks last night with his Malaysian counterpart, Datuk Seri Najib Razak, who is on a six-day official visit to India.
"Honouring a shared heritage. PM @narendramodi receives PM @NajibRazak at Hyderabad House," Indian External Affairs Ministry spokesman Gopal Baglay tweeted.
The two leaders witnessed the signing of a number of agreements following delegation-level talks between the two sides.
The proposed development of a US$2 billion (S$2.8 billion) urea and ammonia manufacturing plant in Malaysia was the biggest deal on the table. The facility, with a capacity to produce 2.5 million tonnes a year, would be dedicated to supplying the Indian market.
Another deal was between a Malaysian company and Andhra Pradesh Economic Development Board for the setting up of a technology park in the southern state.
Both countries also signed a bilateral air services agreement which would enhance connectivity.
A memorandum of understanding was inked between the Association of Indian Universities, New Delhi, and the Malaysian Qualifications Agency on mutual recognition of educational qualifications.
The move is meant to encourage students to study in each other's country in all courses.
A joint statement issued after the meeting between Mr Najib and Mr Modi disclosed that both sides had agreed to explore a possibility of enhancing cooperation in the financial sector. This could include participating in each other's capital market and the granting of commercial banking licences.
Mr Najib, accompanied by his wife and several Cabinet ministers, was accorded an official welcome at Rashtrapati Bhavan Presidential Palace earlier yesterday.
In brief remarks to the media, the Malaysian leader, with Mr Modi at his side, said he was confident that his visit would enhance their bilateral relationship "to a higher level".
Mr Najib later paid a courtesy call on Indian President Pranab Mukherjee and Vice-President Mohammad Hamid Ansari.
The trip, at the invitation of Mr Modi, is Mr Najib's third to India since he assumed office in 2009.
He had arrived in the southern city of Chennai last Thursday where he attended an official reception hosted by the Acting Governor of Tamil Nadu, Mr Vidhyasagar Rao.
Mr Najib will also be holding dialogues with leaders and captains of industry from major business sectors.
He is scheduled to travel to Jaipur today to attend a high-level discussion on the progress of Malaysian companies in infrastructure projects in the state of Rajasthan.
He is also expected to attend a business luncheon and the 7th Global Science and Innovation advisory council meeting in the Indian capital tomorrow.
He is due to officiate at a ceremony for a new complex of the Malaysian High Commission on Tuesday.
India is currently Malaysia's tenth-largest trading partner, seventh-largest export destination and 12th-largest source of imports.
It is also Malaysia's 20th largest investor, with total investments worth US$2.31 billion.