PRESIDENT Ferdinand Marcos Jr.’s five-day state visit to India has yielded actual direct investments worth $446 million and potential investments valued around $5.8 billion in key sectors, including digital infrastructure, renewable energy, healthcare, manufacturing, and IT-BPM.
In a statement, the Malacañang said Marcos’ “highly productive week” resulted in the signing of 18 business agreements, which are expected to generate over 4,000 direct jobs and provide digital training to more than 26,000 Filipinos by 2026, which will “fuel a major boost to the nation’s economic growth.”
Upon arrival in the Philippines on Friday, August 8, Marcos reported that the potential investments may create at least 3,150 additional jobs, including large-scale employment linked to infrastructure, manufacturing, and renewable energy projects.
In his keynote speech during a meeting with Indian businessmen, Marcos reaffirmed the Philippines’ commitment to a business-friendly climate through major economic reforms.
“Our investment environment is the most open and liberal that it has ever been,” he said.
During his visit to India, Marcos, along with Prime Minister Narendra Modi, also witnessed the signing of 13 landmark agreements spanning defense and maritime cooperation, legal assistance, science and technology, tourism, digital innovation, space research, and cultural exchange.
Among these agreements were the lifting of India’s export ban on non-basmati rice, which will play a vital role in bolstering Philippine food security, while affirming shared values and strategic priorities in the Indo-Pacific.
Prime Minister Modi also announced free e-visas for Filipino tourists, which is a reciprocal gesture to Manila’s visa-free policy for Indian nationals.
The leaders also announced the resumption of direct flights between the Philippines and India starting October, a key move to boost tourism and strengthen people-to-people ties.
Marcos said this signals a new era of strengthened bilateral engagement between India and the Philippines.
“The elevation of our bilateral ties signals our mutual recognition of the complementarity and alignment of our interests, not only in bilateral matters but also in many regional and international issues of critical importance to both our countries,” the President said.
“As Strategic Partners, the Philippines and India enter a new era of closer, multidimensional, and impactful engagement between our countries and our peoples,” he added. (TPM/SunStar Philippines)