THE Department of Trade and Industry (DTI) said 18 agreements were signed at a business forum in India last week, involving the Bases Conversion and Development Authority (BCDA) and the Philippine Economic Zone Authority (PEZA), among others.
The deals were unveiled at the Philippines-India Business Forum on Aug. 7, which was co-organized by the DTI and the Federation of Indian Chambers of Commerce and Industry (FICCI).
According to the DTI, the agreements range across information technology and business process management (IT-BPM), renewable energy, healthcare, manufacturing, mineral processing, real estate, and defense.
“These agreements underscore the shared commitment to deepen trade and investment partnerships between the two nations,” the DTI said.
The parties to the agreements included Global Heavy Equipment and Construction Corp., ATD Waste-To-Energy Corp., Uttamenergy Ltd., Capgemini, Carelon Global Solutions Philippines, Inc., Genpact Services LLC, Veer-O-Metals, CostPlus, Inc., and Hinduja Global Solutions;
Infosys BPM, iSON Tower Ltd., Inc., Kiri Industries Ltd., Makilala Mining Co., Dr. Lloyd Balajadia, DRA Group, CheQ Digital, Fyn Mobility, NephroPlus Philippines, Shearwater CPO, Asia Defense Firepower Corp. in collaboration with SMPP Ltd., Sutherland Global Services, Tata Consultancy Services and NOW Corp.
Trade Secretary Ma. Cristina A. Roque touted the Philippines as an investment destination for Indian enterprises seeking strategic growth.
“The Philippines remains one of Southeast Asia’s most dynamic economies. This is fueled by our young, tech-savvy population, a growing consumer base, and a digital economy projected to exceed $40 billion by 2030,” she said.
“We lead the region in services exports, digital transformation, and inclusive innovation,” she added.
She noted the strong energy between India’s information technology industry and Philippine IT-BPM and Global Capability Centers.
The business forum also featured presentations from the officials from the departments of Finance (DoF), Information and Communications Technology (DICT), Health (DoH), PEZA, and IT and Business Processing Association of the Philippines.
“Their briefings highlighted the Philippines’ competitive advantages, investor-friendly policies, and its readiness to welcome Indian companies seeking to expand in Southeast Asia,” the DTI said.
The forum was also attended by Philippine President Ferdinand R. Marcos, Jr.
“The Philippines is ready to begin formal discussions on a Philippines-India Preferential Trade Agreement, a crucial tool that can significantly enhance two-way trade, encourage product diversification, and support modern supply chain integration,” Mr. Marcos said.
“Trade policy is not just a facilitative mechanism — it is a clear signal of trust. We are prepared to move forward with India on that basis, with confidence and a shared vision for prosperity,” he added. — Justine Irish D. Tabile