India-Malaysia trade to happen in rupee and ringgit
India and Malaysia are stepping up their partnership by agreeing to trade directly in each other's currencies—the Rupee and the Ringgit.
This move was announced during PM Modi's visit to Kuala Lumpur on February 8, 2026, where both countries also signed 11 new deals covering tech (like semiconductors), disaster response, anti-corruption, media, job training, healthcare, and security.
What does this mean for both countries?
Trading in local currencies means lower costs for businesses and smoother deals between the two countries.
With trade already hitting $18.6 billion in 2025, this could mean more opportunities for startups and young professionals interested in tech or international business.
Plus, new agreements on digital cooperation could open doors for innovation and jobs.
The plan to set up an Indian consulate will also help connect with Malaysia's large Indian-origin community—about 2.75 million people strong!
And with both leaders promising stronger food security ties (think steady palm oil supply) and zero tolerance toward terrorism, it's a win-win on stability too.