NEW DELHI – President Ferdinand Marcos Jr.’s five-day state visit to India concluded with the securing of $446 million in direct investments, the President announced in a press briefing on Friday, August 8, before departing India.
This investment resulted from 18 business deals signed with various Indian companies across sectors including renewable energy, infrastructure, healthcare, education, IT-BPM, digital services, and manufacturing.
President Marcos expressed optimism that this is just the beginning, anticipating further investments to materialize. He estimated an additional $5.6 to $5.7 billion in potential investments from other areas of cooperation.
The President highlighted India’s robust economy, currently the fourth largest globally, and its potential to become the third largest in the near future.
He expressed satisfaction with the visit’s outcome, particularly the discussions held with business leaders in Bengaluru, focusing on digitalization, information technology, and artificial intelligence.
President Marcos described the visit as one of the most productive he has undertaken, emphasizing his encouraging meetings with top Indian officials and business leaders. He noted that the more areas of cooperation were explored, the more opportunities were discovered.
With the elevation of Philippines-India relations to a strategic partnership, President Marcos pledged aggressive engagement with India in trade and other developing industries.
He anticipates a surge in visits from Philippine businessmen and government agencies in the coming months.
metrosundaily
