Philippines, India Sign 18 Business Deals
The deals, which cover the areas of energy, education, business process outsourcing, manufacturing, health, digital services and information technology, were presented during the Philippines-India Business Forum in Bengaluru on Thursday, Aug. 7.
Eighteen business agreements were inked during the second leg of President' Marcos' five-day state visit to India as part of the efforts to enhance the economic ties between Manila and New Delhi.
The deals, which cover the areas of energy, education, business process outsourcing, manufacturing, health, digital services and information technology, were presented during the Philippines-India Business Forum in Bengaluru on Thursday, Aug. 7.
The agreements include the memorandum of understanding (MOU) among the Bases Conversion and Development Authority, Global Heavy Equipment and Construction Corporation, ATD Waste-to-Energy Corp, and Uttamenergy Ltd. for the development of a waste-to-energy facility; letter of intent (LOI) of Capgemini Philippines to establish a digital academy in partnership with local academic institutions; LOI of Carelon Global Solutions Philippines to expand operations in the Philippine IT-BPO (information technology-business process outsourcing) healthcare sector; MOU between the Philippine Economic Zone Authority (PEZA) and Genpact Services LLC to explore the expansion of Genpact’s operations in the Philippines; MOU between PEZA and Veer-O-Metals to support Veer-O-Metals’ expansion of precision sheet metal manufacturing in the Philippines; LOI of CostPlus Inc. to expand Philippine operations using new fuel cell technology; MOU between Now Corporation and Tata Consultancy Services to explore the development and expansion of digital services in the Philippines; LOI of Hinduja Global Solutions Ltd. to expand Customer Experience and business process management (BPM) operations in the Philippines; and LOI of Infosys BPM to expand BPM operations and support digital skills development.
Also signed were the LOI of iSON Tower Ltd. Inc. to construct telecommunications towers in the Philippines; MOU betwen Makilala Mining Company Inc. and Kiri Industries Ltd. to explore the development of a copper smelter and refinery in the Philippines; MOU between Dr. Lloyd Balajadia and CheQ Digital Private Ltd. to introduce digital payment platforms, e-wallets, and financial services; MOU between Dr. Lloyd Balajadia and DRA Group, India to develop Grade-A commercial office spaces in the Philippines; MOU between Dr. Lloyd Balajadia and Pi Beam Labs Pvt Ltd (Fyn Mobility) to establish renewable energy and last-mile delivery operations in the Philippines; LOI of NephroPlus to expand dialysis center projects and healthcare services for chronic kidney disease; LOI og Shearwater Health Advisor’s Inc. to expand Clinical Process Outsourcing in the Philippines; MOU between Asia Defense and Firepower Corporation (ADFC) and SMPP Ltd. to pursue and execute defense-related projects and the LOI of Sutherland Global Servicesto establish an AI (artificial intelligence) academy for training in AI, GenAI, and Agentic AI.
“We have vigorously pursued critical structural reforms that make the Philippines a more attractive and more reliable destination for capital, for technology, and for talent,” Marcos said during the forum.
“To our esteemed Indian partners, I want to assure you that the Philippine government stands ready to embrace your investments with open arms and with continuing and unwavering support,” he added.
Marcos said the Philippines is opening new avenues for investment in areas where India is demonstrating global leadership and where the Philippines is strategically positioned to contribute, including smart manufacturing, green metals, mineral processing, data center infrastructure, shipbuilding and maritime services. According to him, six priority sectors for long-term collaboration between the two countries have been identified, namely electric vehicles, advanced electronics, renewable energy, high-tech agriculture, healthcare, and cybersecurity.
“We are also looking to deepen our trade framework. The Philippines is ready to begin formal discussions on a Philippines–India Preferential Trade Agreement – a crucial tool that we believe can enhance two-way trade, encourage product diversification, and support modern supply chain integration,” the President said.
“Trade policy is not just a facilitative mechanism – it is a clear signal of trust. And we are prepared to move forward with India on that basis with confidence and a shared vision for prosperity.”
