NewKerala.com

Key Points

The Philippines-India CEO Roundtable saw discussions on boosting trade, investments, and defence ties. Both nations agreed to fast-track a Preferential Trade Agreement and enhance cooperation in IT, pharma, and agriculture. PM Modi announced free e-visas for Filipino tourists, reciprocating the Philippines' visa-free entry for Indians. Direct flights between Delhi and Manila will start in October, further strengthening connectivity.

Key Points: Marcos and Modi Boost Philippines-India Trade at CEO Roundtable

  • Marcos and Modi elevate ties to Strategic Partnership
  • Bilateral trade hits $3.5 billion in 2023-24
  • Defence cooperation strengthened with BrahMos exports
  • Visa-free travel and direct flights announced
2 min read

Philippines-India CEO Roundtable held to boost bilateral trade, investments

Philippines President Marcos and PM Modi discuss trade, defence, and visa-free travel to strengthen bilateral ties during a high-profile CEO roundtable.

"We emphasised key sectors like health, pharma, IT, and agriculture for collaboration – Piyush Goyal"

New Delhi, August 6

A Philippines-India CEO Roundtable was held on Wednesday here in the national capital, where businesses from both sides participated to discuss bilateral trade.

Commerce Minister Piyush Goyal and MoS External Affairs Pabitra Margherita also participated in the roundtable. Philippines President Ferdinand R. Marcos, on a five-day state visit to India, was also part of the meeting.

"Discussions focused on promoting bilateral trade, boosting investments, and enhancing the Ease of Doing Business. We also emphasised on key sectors of collaboration, including health, pharma, IT, science & innovation, education, and agriculture," Piyush Goyal wrote on X after the roundtable.

India and the Philippines on Tuesday decided to elevate their ties to a Strategic Partnership with Prime Minister Narendra Modi and President Ferdinand R. Marcos Jr agreeing for expeditious conclusion of the negotiations of the Preferential Trade Agreement (PTA) between India and the Philippines for further promotion of mutual trade.

The two countries agreed to enhance defence cooperation, with President Marcos thanking PM Modi for cooperation in the area of defence industry and export of platforms, including the BrahMos.

The Diplomatic Relationship between the two countries was established in November 1949. Both countries are now celebrating the 75th anniversary of the establishment of Diplomatic relations.

Economic and commercial engagement is an important aspect of the India-Philippines bilateral relationship. Bilateral trade between India and the Philippines reached 3.5 billion USD in 2023-24. There is a notable presence of Indian companies in the Philippines, in the areas of IT and ITES, health-care and pharmaceuticals, textiles, infrastructure, FMCG, chemicals, automobiles, agriculture, among others.

India is the largest exporter of pharmaceuticals to the Philippines. Pharma exports from India to the Philippines have grown from 290 million USD in 2020- 21 to USD 460 million in 2024-25.

For greater mobility between, both countries have eased visa norms.

Prime Minister Narendra Modi on Tuesday announced that India will be offering free e-visas to Filipino tourists, in a reciprocal move following the Philippines' decision to grant visa-free entry to Indian nationals.

The Philippines has made visa-free entry possible for Indian tourists for up to 14 days.

The Ministry of External Affairs later announced direct flights from Delhi to Manila, expected to commence operations from October 1 this year, in a significant step towards enhancing regional connectivity between India and the Philippines.

- ANI

Share this article:

Reader Comments

P
Priya S
Direct flights from Delhi to Manila is the best news! I've been wanting to visit Philippines for so long but the connecting flights were too expensive. Now with e-visas and direct connectivity, tourism will get a big boost from both sides.
R
Rahul R
While the trade numbers look promising, I hope we also focus on technology transfer and joint R&D in pharma sector. We can't just remain the pharmacy of the world, we need to move up the value chain. The BrahMos deal shows defense is another promising area.
S
Sarah B
As an expat working in Manila, this makes me so happy! The Indian community here is growing and these new policies will help so many families visit each other more easily. The IT sector collaboration is particularly exciting for professionals like me.
K
Karthik V
Good move but implementation is key. Hope the PTA negotiations don't get stuck like some other trade deals. We need to move faster if we want to compete with China's influence in Southeast Asia. The 75th anniversary is perfect timing to strengthen ties.
N
Nisha Z
The agriculture collaboration could be game-changing! Philippines has expertise in tropical crops that could benefit Indian farmers. Also, our basmati rice exports could find new markets there. Win-win situation for both countries if done right 👏

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

Leave a Comment

Minimum 50 characters 0/50