INDIA considers the Philippines to be “a partner rather than just a market” and, to support this statement, the Indian Embassy in Manila projects that bilateral trade between the two countries in the next few years will triple from the present $1.4-billion.
Given the 7.1-percent growth of the Philippines’ gross domestic product in the third quarter, the Indian government sees this as an indication that new business opportunities will open up, Indian Ambassador to the Philippines Amit Dasgupta said during a briefing Friday.
“The possibility is enormous,” he said, referring to the economic possibilities now facing both countries.
Apart from the country’s economic performance, the Indian diplomat also took note of the recent peace deal between the government and the Moro Islamic Liberation Front (MILF), ending decades of strife.
Dasgupta said that the commemorative summit between the Association of Southeast Asian Nations and India in New Delhi on Dec. 20 would lead to an improvement in the economic relations of all the countries concerned.
Dasgupta said India and the Philippines’ bilateral trade touched $1.4 billion, “a minuscule” amount compared with the overall Indo-Asean trade, which has grown to $80 billion.
“We don’t see the Philippines as a market, but as a partner country,” he said, adding that among the things to be tackled at the summit would be how business relations among members of the Asean and India can be developed further.
India, he said, is scouting for opportunities in areas like information communication technology, healthcare, automobile, and education.
Johnny Chotrani, chair, of the Philippines-India Business Council of the Philippines Chamber of Commerce and Industry, clarified the general perception that the two countries are competitors in BPO and ICT.
“BPO companies from India are already here in the Philippines. Again, we are not competing. We are complementing each other,” Chotrani explained.