Valletta, Malta (CU)_ Maltese and Indian authorities held a high-delegation meeting recently in Malta and discussed strategies to increase private Indian investments in Malta. Following the bilateral discussions in Malta with Meenakshi Lekhi, the Indian Minister of State for External Affairs and Culture who visited the island country, Ian Borg, the Maltese Minister for Foreign and European Affairs and Trade, made the following statement: “In Malta, we currently have 112 companies or private investments from India, but it is necessary that in the trade sector we continue to develop the relationship we have with India, and above all, to increase our exports to India”.
According to Borg, India and Malta have maintained a 57-year-long bilateral relations, and that the relationship between the two nations may still be strengthened. Borg stated that despite the size gap between Malta and India, both nations have robust economies that should be leveraged to the greatest extent possible in order to benefit the Maltese and Indian nationals.
According to Borg, the industries of information, technology and communication, medicines, and even the film business provide several opportunities for partnership in the commercial sector. According to media sources, a Maltese government delegation is planning to visit India next month. Additionally, Lekhi highlighted the necessity to improve business relations between the two nations. According to her, the Indian government will continue to sign business deals and collaborate with Malta on a number of accords and projects.
Additionally, the Maltese government also encourages Indian businesses to establish operations on the island. In order to lure Indian enterprises, Malta has provided them with several special advantages. Malta and the Indian government have also inked a bilateral trade agreement to minimize double taxation. Aurobindo Pharma Ltd, a multinational Indian pharmaceutical firm, has spent €16 million and established a manufacturing unit in Hal Far, Malta, which employs hundreds of Maltese and also provides professional training to Pharmacy students at the University of Malta. Aurobindo Pharma is also boosting its investment in Malta and expanding its facilities.
