Staff Writer, Halal Incorp
The Asian based entity SEED has developed a working relationship with the Halal specialist organisation Jakim and HDC. The Secretariat for Empowerment of Indian Entrepreneurs (SEED) has identified a growth opportunity for Indian business, companies and entrepreneurs in the Halal orientated markets and sector. Currently the Halal global and localised sector is flourishing economically.
This boost has seen a variety of Muslim and non-Muslim entities entering the Halal business arena. By working in unison with the Halal Industry Development Corporation (HDC) and Malaysian Islamic Development Department (Jakim) Indian start-ups will receive expert information around the importance of Halal products and come to better understand and comprehend what the Halal sector entails and is concerned with.
The Halal sector is estimated to reach $3.7 Trillion by 2020. Therefore Halal industries, services and product providers are positioning themselves to gain a larger market share. Malaysia is a global leader in the Halal sector and is a prime geographical location to undertake business or develop networks and contacts in the Halal sector.
Last year the SEED organisation was instrumental in assisting fifty five organisations in signing up with the HDC an increase of sixteen from the previous year, 2014. A representative of the organisation commented that they had aspirations to see around 100 Indian companies moving into the Halal sector by the end of 2016. There are estimated to be around 10,000 Indian orientated SME’s in Malaysia out of a total of just over 38,000.
A smaller proportion of these just under 10% are estimated to be making large sums of revenue and profits. SEED are developing tailored programmes to assist Indian entrepreneurs enhance skills and provide training in conjunction with the 1 Malaysia Training Scheme (SL1M) designed to assist young career orientated graduates with finding sustainable and quality employment opportunities.