Indian companies eyeing PH's engineering sector

About 75 Indian firms, encompassing the entire value chain of the engineering industry, are scouting for trade and investment deals in the Philippines and other markets in South Asia.

Mahesh K. Desai, senior vicechairman of India’s Engineering, Export Promotion Council, the counterpart of the Board of Investments of the Department of Trade and Industry, said close to 75 Indian entrepreneurs have participated at the three-day India Engineering Exhibition, which ends today at the World Trade Center.

INDEE, India’s flagship high tech exposition, has decided to stage the 39th edition for the first time in the country dubbed as “INDEE Philippines 2018”.

“These firms are engaged in smart manufacturing technologies, metal cutting machinery, industrial supply, industrial and electrical machinery and sheet metal machinery, among others,” said Desai.

It is for the first time that this prestigious exposition is being held in the Philippines , for the first time, as it would be its 39th edition.

Desai noted that 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 therein. Textiles, Garments, IT & ITes, Steel, airports, chemicals, Automobiles and pharmaceuticals are mainly the sectors that caught the attention of Indian investors.

India's Ambassador to the Philippines Jaideep Mazumdar also cited the robust $2.5 billion bilateral trade between the two countries.

As India and the Philippines are in the process of implementing game-changing economic reforms, the ambassador said the two countries have huge potential to further improve their economic relations.

He cited that majority of India’s exports to the Philippines are being accounted for by engineering and automobile products.

Both the nations are undergoing much needed reform processes with strong focus on enhancement of business, trade and investments. Both of them are moving towards a higher growth trajectory which is likely to sustain given the underlying strength of these economies. Intake capacities of both the economies are increasing while they both hold an ever strengthening bilateral relations.

“Therefore, the time is apt to further deepening of the Indo-Philippine 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 towards a more consolidated bilateral relations between India and Philippines with a focus on trade and investments.