75 Indian firms join INDEE flagship engineering show

Some 75 Indian firms, encompassing the entire value chain of the engineering industry, would be scouting for trade and investment deals in the Philippines and other markets in South Asia by participating in the country’s flagship high technology exposition ‘INDEE,’ being held in Manila between Aug. 22 and 25, under the aegis of the EEPC India with the active support of the Commerce Ministry.

As India and the Philippines are in the process of implementing game-changing economic reforms, the two countries are keen on giving further impetus to the bilateral trade of about $2.5 billion during 2017-18, which has grown well but remains below the potential, said India’s Ambassador to the Philippines Jaideep Mazumdar.

He 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 apace at shipments worth $670.43 million during 2017-18. The focus of the bilateral commercial engagement has to be not only on trade but investment as well, he said.

EEPC India senior vice chairman Mahesh Desai said close to 75 Indian entrepreneurs are expected to showcase smart 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 , as it would be its 39th edition.

Both nations are undergoing much needed reform processes with strong focus on enhancement of business, trade and investments. Both are moving toward a higher growth trajectory which is likely to sustain given the underlying strength of these economies.

Intake capacities of both economies are increasing while they both hold an ever strengthening bilateral relations. The time is apt to further deepen the IndoPhilippine relationship with 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 whole hearted effort toward a more consolidated bilateral relations between India and the Philippines with a focus on trade and investments, he added.

Investment relations between India and the Philippines are also well established with the footprints of Indian majors like Aditya Birla Group, Ispat Group, Tata and Mahindra in this West Pacific archipelago. During the last few years, Indian companies have successfully executed some small and medium sized projects in this ASEAN member nation that took the total Indian investments to more than $650 million. Textiles, garments, IT and ITes, steel, airports, chemicals, automobiles and pharmaceuticals are mainly the sectors that caught the attention of Indian investors.

The INDEE Philippines 2018 will be a major effort toward a more consolidated bilateral relations between India and Philippines.