India and the Philippines want to further improve their economic ties, said the Department of Trade and Industry (DTI) following a meeting between Trade Secretary Ramon Lopez and Indian President Ram Nath Kovind.
The DTI said Kovind had conveyed his country’s interest to participate in the Philippine growth story.
The meeting between the two officials happened during the Asean-India Business Summit Gala last week. During the said meeting, the officials expressed optimism on the two countries’ bilateral economic and business relations, citing various sectors that both countries could further collaborate on.
“With the Philippines enjoying robust economic growth, we need to create opportunities with India and its own fast-growing economy to expand economic engagements that are based on synergies and complementarities, such as in IT-BPO (information technology-business process outsourcing), pharma, transportation and infrastructure,” Lopez said.
The country’s trade chief likewise encouraged Indian pharmaceutical groups to set up manufacturing plants in the Philippines.
Lopez called on the continued exchange of best practices and upgrading primary skills in the IT-BPO and ICT industries.
Among other developments, the DTI said Lopez highlighted the participation of India’s GMR Group in the country’s infrastructure projects through public-private partnerships.
He also emphasized the growing number of Indian students in the country pursuing education in the field of medicine and civil aviation.