India-ASEAN Business Summit
On 19 October, 2019, the 4th India-ASEAN Business summit and the India-Philippines Business Conclave was organized. President Ram Nath Kovind who is on a 7-day official visit to Philippine and Japan addressed the summit.
Highlights of the address
- ASEAN-India trade relations are important for India to achieve its Act East Policy. The ASEAN-India trade increased by 19% in 2018 reaching 96.79 billion USD. India targets to increase the trade to 200 billion USD by 2022.
- The Indian investment in Philippines has grown especially in concrete projects like LNG pipelines, waste management solutions and airport terminals
- The major gain between India and Philippines relations has been in IT-BPO sector. Leading Indian IT companies have created job opportunities in Manila by setting up enterprises.
- The “Make in India” infrastructure program of India and “Build, Build, Build” infrastructure initiative of India have immense opportunities.
Originally written on
October 20, 2019
and last modified on
November 20, 2020.
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