Halal Industry Development Corporation (HDC) is confident that Malaysia’s halal exports to India would surpass the RM1.6 billion mark in 2019. International Footprint Manager Mohammad Shukur Sugumaran said halal exports to India jumped 12 per cent to RM1.59 billion in 2018 from RM1.43 billion in the previous year, indicating a strong demand from the country.
“The export of halal ingredients saw the biggest jump of 20 per cent to RM1.2 billion in 2018 from RM982 million in 2017. “Other halal sectors which have seen an increase in exports to India include food and beverage (F&B) which grew to RM116.0 million in 2018 from RM113.17 million in 2017, palm oil derivatives (RM117.09 million from RM113.5 million) and pharmaceutical products (RM6.48 million from RM1.45 million),” he said at a business presentation on global halal markets in Chennai. Mohammad Shukur also urged Indian businesses to seize the untapped halal opportunities in the country, which was backed by a huge Muslim population of about 180 million.
The presentation was held in conjunction with the one-day halal seminar co-organised by HDC and the Malaysia External Trade Development Corporation (MATRADE). Themed, “Halal India: The Untapped Goldmine”, the event was aimed at creating awareness of halal, especially Malaysian halal products, among Indian market players. It was also to create market space in India for Malaysian companies, while promoting the country as a halal products sourcing destination.
MATRADE’s trade consul in Chennai, Muzzafar Shah Hanafi, believed India can become a major powerhouse in the global halal economy in the future. He said the fact that India is the second most populated country in the world with the second largest Muslim population, the third largest economy by purchasing power, as well as the world’s youngest population where more than 50 per cent are aged 25 and below, offered huge halal opportunities for businesses to venture into.