The Department of Trade and Industry (DTI) recently received an Indian business mission to the Philippines that intends to explore potential business opportunities, and possibly locate and expand their operations in the country.
During the mission member’s courtesy call, Domingo noted the resurgence of the manufacturing sector in the Philippines, and the growth of capital formation in the gross domestic product (GDP) by 18%. The mission was organized through the Philippine Trade and Investment Center (PTIC) in New Delhi and the Federation of Indian Chambers of Commerce and Industry (FICCI).
Domingo also noted that this mission is his second meeting with the FICCI. The first was during the First India-ASEAN Business Fair and Business Conclave in New Delhi, India in March 2011.
The FICCI is the oldest and largest top business organization in India. The history of FICCI is interwoven in India’s struggle for independence, industrialization, and emergence as one of the rapidly growing economies. The FICCI has members from India’s corporate sector, including multi-national corporation (MNC), and enjoys an indirect membership of over 250,000 companies from various regional chambers of commerce.
“India is a huge market. The distribution is excellent and you just have to find the right partner,” said Kapil Rampal, deputy head of the delegation and director of the Ivory Education Pvt. Ltd., during the DTI business forum on doing business in the Philippines.
Rampal also mentioned investment interests in pharmaceuticals, bio, and thermal energy (From Rampal’s presentation), motorcycles and auto parts, mining, infrastructure, and space and defense related industry. He added that the possibilities are more than enough, and suggested to look at possibilities of collaboration and be competitive at the global level.
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