President Ferdinand “Bongbong” Marcos Jr. on Friday described his five-day state visit to India as the start of a “new beginning” in bilateral relations, announcing that the trip yielded $446 million in confirmed investments and opened the door for billions more in potential deals.
He said the visit, marked by meetings with Prime Minister Narendra Modi, President Droupadi Murmu, and Indian business leaders, revealed a growing range of opportunities for cooperation in sectors from agriculture to digital technology, defense, maritime security, pharmaceuticals, and training.
“The more we discussed possible areas of cooperation, the more we found… We have always had amicable relations for over 70 years, but now we will engage each other more aggressively in trade, supply chains, and industry development,” Mr. Marcos told reporters.
He also engaged with Indian business leaders to encourage investment in the Philippines.
The Philippines-India Business Forum saw the signing of 18 memoranda of understanding and letters of intent in sectors such as renewable energy, healthcare, education, IT-business process management, digital services, and manufacturing.
According to Marcos, initial talks generated investment commitments worth about $446 million, with further opportunities valued at $5.6 to $5.7 billion. He added that Philippine government agencies and business delegations are expected to visit India in the coming months to pursue these prospects.
The President emphasized India’s rapid economic rise, currently the world’s fourth-largest economy, soon to become the third, and its strengths in the digital sector as key drivers for deeper partnership.
During his courtesy call to Murmu, he sought her support for the initiatives discussed with Modi.
“She agreed this is good for both our countries… This visit has opened new lines of communication that will benefit both nations,” Mr. Marcos said.
“I am very happy with the results,” he concluded.
