It is 2024, not the early 2000s any more. Nowadays it rarely makes sense to buy phones from abroad. The only phones that have a major price difference between India and abroad are all those Ultra / Pro / Max ones that cost over a lakh. For phones cheaper than that you can often snag even better prices in India sometimes if you look out for offers and use credit cards/vouchers.
As far as I know, only iPhones have international warranties (I am by no means advocating an iPhone). Google and Samsung do not. Also, phones are customized both in hardware (4G/5G bands support) and software (firmware, payment options) as per the market they are sold in. I had bought a couple of Samsung S7 Edge's from Dubai and it was a bad decision since Jio 4G wouldn't work on them and Samsung Pay would not work either.
TL;DR - It is a bad idea to buy a Pixel from Malaysia unless the discount is worth the risk of an out-of-warranty phone in your eyes.