President invites Asean business community
President Ram Nath Kovind said that the Philippines-India business story is an encouraging one with the real gain being collaboration in the IT-BPO segment.
“As we race into the digital age, we have immense opportunities before us to fill e-commerce shelves, create fin-tech services, develop imaginative entertainment platforms, and power green and clean solutions,” he told India-Philippines Business Conclave and 4th Asean-India Business Summit on 19 Oct 2019.
He also invited Asean Business Community to Participate in India’s Growth Story, pointing out that India-Philippines have seen two-way investment grow in infrastructure and energy sectors in recent years.
More prospects wait to be converted into concrete projects, from airport terminals, LNG pipelines to waste management solutions, said the President during his visit to the Philippines.
The Indian pharma and healthcare sectors offer immense value to the Philippines. There is scope to enhance partnership in several other areas – from trade, investment, services, agriculture, engineering to new technologies, he pointed out.
Kovind noted that the ASEAN is one of the most economically dynamic regions of the world today.
“India has deep political and people-to-people relations with each and every country in the ASEAN. We wish to bring our economic and business relations up to the same level,” he said.
He noted that ASEAN-India trade has jumped significantly in the past few years.
“However, we still have a long distance to cover to reach the target of US$200 billion by 2022. Effective use of existing mechanisms, particularly the ASEAN-India Business Council can go a long way in realizing this goal.”
Just as Indian companies see significant opportunities in the region, the President was confident the ASEAN business community also recognises the tremendous business potential in India.
He said that India wishes to participate in ASEAN’s growth story and invited all of the ASEAN to participate in prosperity.
The President said that for India, ASEAN is a region of great importance. India wants to see a strong, unified and prosperous ASEAN playing a central role in the emerging dynamic of the Indo-Pacific.
“Engagement with ASEAN has been, and will remain, a critical element of India’s ‘Act East’ policy and strategy.”
India and Philippines signed and exchanged four agreements in the fields of maritime domain, security, tourism, science and technology and culture in the presence of President Kovind and President Rodrigo Roa Duterte.
The President visit celebrated the 70th anniversary of diplomatic relations and reaffirms the Philippines-India bilateral partnership. fiinews.com
