Malaysia is seeking "structured engagement" with India to support the country's growing semiconductor industry, Deputy Minister of Investment, Trade and Industry Liew Chin Tong said during his visit to India.

"We want to see how to have structured engagement with India in the semiconductor sector," Liew told Bernama on Tuesday. He emphasised Malaysia's desire to be part of "India's semiconductor story" by offering expertise in key areas.

India's semiconductor market is projected to grow from US$38 billion in 2023 to US$109 billion by 2030, with major investments from global players such as Foxconn, $Micron Technology (MU.US)$, $Applied Materials (AMAT.US)$, and $Advanced Micro Devices (AMD.US)$ .

Liew noted that many foreign companies now investing in India have been present in Malaysia for decades, creating opportunities for "trilateral" business relationships. "Through them we have already developed a robust Malaysian supply chain. We think this is where we can work together with India," he said.

Malaysia's strengths in semiconductor equipment, assembly, and testing could help India accelerate the development of its supply chain, he added.

Domestically, Malaysia's National Semiconductor Strategy (NSS), launched in May last year, aims to strengthen local technology companies. "For a long time the semiconductor sector has been treated as foreign direct investment, but we have not put emphasis on growing Malaysian innovation and capability," Liew said.

Liew also met India's G20 Sherpa, Amitabh Kant, to discuss Malaysia-India ties and cooperation in the "current global geoeconomics landscape."

Additionally, he engaged with Malaysian businesses operating in India at the High Commission of Malaysia and met with members of the Federation of Indian Chambers of Commerce and Industry (FICCI) to explore trade and investment opportunities between the two countries.