Indo-Malaysia trade opportunities galore
The trade between India and Malaysia has been growing steadily over the last few years. Puneet Chaddha, country head, commercial banking, HSBC India, elaborates on the opportunities that are waiting to be tapped.
By TNN |
| Puneet Chaddha |
The banking and financial sector has always had a pivotal role to play in facilitating trade between countries. And HSBC, which has a significant presence in both India and Malaysia, is looking at using its resources to help companies make the most of the palpable synergy between the two Asian economies.
At the sidelines of the Indo-Malaysia trade forum organised by The Economic Times, in association with HSBC, Puneet Chaddha, country head, commercial banking, HSBC India, spoke at length about the current status of trade activities between the two nations, the prospects and the potential that needed to be harnessed.
So, what is it about Malaysia that companies in India need to know? What are the benefits that Indian companies can hope to derive from investing in Malaysia? Replied Mr Chaddha: "First and foremost, Malaysia is part of the ASEAN free trade arrangement and therefore, enjoys benefits under the same. Secondly, it has great infrastructure which helps in reducing the overall cost of doing business. In addition, it offers an English-speaking environment, which ensures that interpretation issues are minimal."
Further, talking about the support that his bank can offer to corporates planning to establish their presence in the south-east Asian nation, Mr Chaddha, said, "HSBC is a full service bank at both ends, that is, in India as well as in Malaysia, which means that we possess adequate knowledge of local conditions and have the reach in both countries.
This puts us in a good position to offer advice and address customer queries." The bank's internal processes, he added, tend to be consistent across countries and this is of great help in avoiding duplication in processes.
Therefore, HSBC is able to offer a faster turnaround to its customers. "Corporates who bank with us in India and wish to set up an operation in Malaysia can, based on their relationship history with our bank in India, receive preferential treatment in Malaysia instead of being viewed as a completely new customer," he stated, adding that the Internet services that HSBC offered were capable of accommodating the requirements of both countries.
At the sidelines of the Indo-Malaysia trade forum organised by The Economic Times, in association with HSBC, Puneet Chaddha, country head, commercial banking, HSBC India, spoke at length about the current status of trade activities between the two nations, the prospects and the potential that needed to be harnessed.
So, what is it about Malaysia that companies in India need to know? What are the benefits that Indian companies can hope to derive from investing in Malaysia? Replied Mr Chaddha: "First and foremost, Malaysia is part of the ASEAN free trade arrangement and therefore, enjoys benefits under the same. Secondly, it has great infrastructure which helps in reducing the overall cost of doing business. In addition, it offers an English-speaking environment, which ensures that interpretation issues are minimal."
Further, talking about the support that his bank can offer to corporates planning to establish their presence in the south-east Asian nation, Mr Chaddha, said, "HSBC is a full service bank at both ends, that is, in India as well as in Malaysia, which means that we possess adequate knowledge of local conditions and have the reach in both countries.
This puts us in a good position to offer advice and address customer queries." The bank's internal processes, he added, tend to be consistent across countries and this is of great help in avoiding duplication in processes.
Therefore, HSBC is able to offer a faster turnaround to its customers. "Corporates who bank with us in India and wish to set up an operation in Malaysia can, based on their relationship history with our bank in India, receive preferential treatment in Malaysia instead of being viewed as a completely new customer," he stated, adding that the Internet services that HSBC offered were capable of accommodating the requirements of both countries.
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