75 Indian engineering firms join in INDEE flagship engineering show in Manila By Monsi A. Serrano
Photos by Jhay Jalbuna/THEPHILBIZNEWS
To leverage and showcase their global competitive prowess in technology and engineering, 75 Indian engineering firms encompassing the entire value chain of the engineering industry join in the INDEE engineering show in Manila from August 22-25, 2018 at the World Trade Center Manila.
India globally known for its expertise in engineering and technology has decided to join the show in order to explore further the Philippine and other markets in South East Asia through the high technology exposition “INDEE”.
Both India and Philippines are in the process of implementing game-changing economic reforms, and are keen on giving a further boost to the bilateral trade of about US$2.5 billion during 2017- 18 which has grown well but remains below the potential, according to His Excellency Jaideep Mazumar, India’s Ambassador to the Philippines.
Ambassador Mazumar further said, “The engineering sector, including automobiles is one of the main areas of Indian investment in the Philippines. Contributing significantly to India’s total exports to the Philippines, the engineering exports are growing fast at shipments worth US$670.43 million during 2017-18. The focus of the bilateral commercial engagement has to be not only on trade but also on investment as well.”
Meanwhile EEPC (Engineering Export Promotion Council) India Senior Vice Chairman Mahesh K. Desai said, “Close to 75 Indian entrepreneurs are expected to showcase state-of-the-art manufacturing technologies, metal cutting machinery, industrial supply, industrial and electrical machinery and sheet metal machinery, among others at the INDEE. It is for the first time that this prestigious exposition is being held in the Philippines and it would be its 39th edition.”
“The intake capacities of both the economies are increasing while they both hold an ever strengthening bilateral relationships. Therefore, the time is very apt to further deepening of In do-Philippine relationship mutually beneficial measures where role of these types of trade fairs and exhibitions would really be instrumental. I believe this INDEE Philippines 2018 will be a wholehearted effort towards a more consolidated bilateral relations between India and Philippines with focus on trade and investments”, EEPC India Senior Vice Chairman concluded.
The well established trade and investment relationship between India and the Philippines have been successfully embarked in the Philippines through the various Indian companies such as Aditya Birla Group, Ispat Group, Tata and Mahindra. Apart from that in the past years, there were some small and medium sized projects that the Indians have ventured in with more than US$650 million in textiles, garments, IT ITes, steel, airports, chemicals, automobiles and pharmaceuticals sectors that caught the attention of Indian Investors.
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