The agreement was signed on Aug. 6 at the Taj Mahal Hotel in New Delhi during the State Visit of President Ferdinand R. Marcos Jr.
The renewed MOU aims to foster more Filipino-Indian business ventures by promoting trade missions, facilitating business partnerships, and enhancing information exchange.
The ceremony was witnessed by Trade and Industry Secretary Cristina A. Roque, who emphasized the long-term benefits of the renewed partnership for both economies.
“This partnership is a strong symbol of the growing economic ties between the Philippines and India. It reflects our shared commitment to advancing trade, promoting investment, and creating more opportunities for collaboration between our business communities,” Roque said.
The agreement builds on an initial MOU signed in 2019 and now includes expanded areas of cooperation such as information-sharing on trade regulations, support for policy advocacy, and coordinated efforts to host business delegations and forums.
According to the Department of Trade and Industry (DTI), the renewed MOU will improve market access for companies in both countries by streamlining trade and investment activities and opening direct channels for cross-border business cooperation.
The DTI added that the agreement complements the Philippines’ strategy to position itself as a regional hub for manufacturing, services, and tech-driven enterprises—industries where Indian companies have shown increasing interest.
“Whether through trade promotion, investment facilitation, or market access initiatives, we will continue to support efforts that benefit both our economies and contribute to inclusive, sustainable growth,” Roque added.
Both nations are exploring collaborative opportunities in pharmaceuticals, information technology, agribusiness, and consumer goods—sectors where Indian innovation and Philippine market potential are aligned. —Ed: Corrie S. Narisma
