Potential Indian investors keen on PHL pharmaceuticals, infrastructure

POTENTIAL Indian investors have indicated their interest in pursuing pharmaceutical and infrastructure ventures in the Philippines, the Palace press office in Manila said.

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It added that Indian officials also noted the potential upside in bilateral trade activity, coming from a low base.

Citing the outcome of a business roundtable in Delhi organized during President Ferdinand R. Marcos, Jr’s state visit to India, it said other areas of interest were digital technology, autos, agri-food processing, clean energy, and innovation-driven enterprises.

Indian investment in the Philippines is valued at about $5 billion in industries like information technology services, pharmaceuticals, healthcare, textiles, and agriculture.

At the roundtable in the Indian capital, Commerce and Industry Minister Piyush Goyal described the current level of bilateral trade as “abysmally low” but saw it as an opportunity for growth.

“This is one partnership where we should only aim for exponential growth,” Mr. Goyal said.