President Ferdinand R. Marcos Jr. on Friday reported the successful outcome of his August 4 to 8 State Visit to India, describing a new era of closer engagement between the Philippines and India.
In a news release issued upon his arrival at the Villamor Air Base in Pasay City, President Marcos said the strategic partnership between the Philippines and India brings an even stronger sense of optimism in bilateral relations that will foster progress and prosperity, and contribute to the peace and security in the broader Indo-Pacific region.
In terms of trade and investment, the President reported that the Philippines secured real investments of $446 million in 18 business agreements, and generated interest for potential investments of up to $5.798 billion.
These cover key sectors such as digital infrastructure, renewable energy, healthcare, manufacturing, and information technology-business process management (IT-BPM).
“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,” President Marcos 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.
During the President’s meeting with Prime Minister Narendra Modi and other Indian officials, the two governments signed cooperation agreements on judicial matters, space, science and technology, defense and security, culture, and tourism.
In his Foreign Policy Address delivered at the event hosted by Observer Research Foundation, President Marcos emphasized the shared aspirations for a free, open, and inclusive Indo-Pacific region; security and rule of law; supply chain resilience; food security; and countering terrorism, and other traditional and non-traditional threats.
Real investments from the business deals are expected to generate 4,030 direct jobs, while potential investments may create at least 3,150 additional jobs, including large-scale employment linked to infrastructure, manufacturing, and renewable energy projects, President Marcos said.
Some of these agreements, according to the President, include commitments to digital upskilling with a combined value of $11.07 million, and are projected to train about 26,120 Filipinos by 2026 in artificial intelligence (AI), digital technologies, and cybersecurity.
The visit’s outcome will also boost tourism after Prime Minister Modi announced free e-visa application for Filipino tourists. Relatedly, the Philippines has been granting 14-day visa-free entry for Indian tourists since June.
In addition, President Marcos said he and Prime Minister Modi discussed partnerships in the development of the Philippines’ digital infrastructure, to strengthen its digital systems and capabilities. The Philippines is also excited by the prospects of space cooperation with India, the President added.
While in India, President Marcos met with the Filipino Community, recognizing their important contributions to promoting Philippine culture abroad and fostering people-to-people ties.