The Federation of Indian Export Organisations (FIEO) in partnership with the Department of Trade and Industry’s Philippine Trade & Investment Center (DTI-PTIC) in New Delhi recently held a Business Round Table and Executive Briefing entitled: High Potential Philippines India Strategic Partnerships on Trade and Investments at the FIEO headquarters in New Delhi on March 31, 2016.
Fifty (50) businessmen and industry players from India met with Philippine trade officials to further explore business opportunities between the two countries. Representatives discussed mutually valuable opportunities in ICT, Automotives, Energy, Defense, Pharmaceuticals, Agriculture, Minerals, Chemicals, Electronics and Semiconductors.
FIEO top executives Mr. Ajay Sahai, Director General & CEO, and Mr. Anil K. Monga, a member of the FIEO Managing Committee welcomed the delegation and delivered the opening keynote remarks for the event attended by FIEO members who had current business and strong interest to explore opportunities in the Philippines.
The Philippine delegation to the FIEO Business Round Table was led by President Maria Lourdes Baua, of the Philippine International Trading Corporation (PITC) and Her Excellency Maria Teresita C. Daza, Philippine Ambassador to India.
Commercial Counsellor Michael Alfred V. Ignacio, head of the Philippine Trade and Investment Center in New Delhi (PTIC-New Delhi), commercial section of the Embassy of the Philippines and representative office of the DTI in India and South Asia delivered an interactive presentation which identified the following priority sectors for investment promotion in India, namely: IT-BPM, Automotive components manufacturing, PPP and Infrastructure Development and Energy projects. He also actively promoted IT-enabled services, Philippine education, electronics and design driven niche products in India.
India-Philippines trade currently stands at US$ 1.8 Billion and given the size of both the Indian and Philippine Markets and their recent economic performance, both sides recognize the huge potentials and opportunities to increase bilateral trade substantially in the mid to long term and agreed to work closely together to consistently improve the bilateral trade between the two countries.
The event also resulted in PTIC New Delhi’s engagement with three Indian companies interested in investing and establishing operations in the country in sectors such as manufacturing, food processing and importation of Philippine furniture.
Indian execs explore trade opportunities in PH. FIEO Director for International Relations Ashish Jain ( first from left) and Director General and CEO Anil K. Monga (2nd from left) with Philippine officials H.E. Ambassador Maria Teresita C. Daza (3rd from right), Philippine International Trading Corporation President Maria Lourdes Baua (2nd from right) and Commercial Attache Michael Ignacio (1st from right) during the round table discussion in New Delhi, India last March 31, 2016.