India and the Philippines have entered a new phase in their economic relations with the volume of trade marking a new milestone. The last fiscal year registered a trade volume in surplus of 3 billion US Dollars. Both India and Philippines are young fast growing democratic economies with immense potential for mutually beneficial collaboration. Several Indian businesses across a range of sectors are already contributing to the positive growth story of the Philippines.
As part of its commercial outreach activities, the Embassy of India in Manila organized business roadshows in different parts of the Philippines in partnership with the regional business chambers, city administration, and provincial government to explore opportunities for trade and investments as well as to generate awareness and apprise local Government, authorities, businesses and other stakeholders in the Philippines about the successes of the Indian businesses. The Embassy of India visited Cebu, the hub of commercial activity in Central Visayas, for the India Business Roadshow, Cebu Edition.
The Cebu Roadshow (14-15 November 2023) is being organized in partnership with the Cebu Chamber of Commerce & Industry (CCCI) and the India Business Forum (IBF). IBF is a non-profit organization which acts as a think-tank to and voice of the Indian Businesses in the Philippines, as well as a focal point for engagement with interested Philippines businesses with the aim of promoting India-Philippines bilateral economic relations.
The CCCI has mobilized the participation of local businesses from the province and the IBF has mobilized participation from the Indian businesses across various sectors.
The Embassy is also seeking support from the Cebu Provincial Government as well as the City Government of Cebu, which are essential for the success of the roadshow.
In consultation with CCCI and IBF, the roadshow focuses on prominent sectors that hold potential for partnership based on complementary strengths and comparative advantages, viz. Agriculture, Energy & Infrastructure, Healthcare & Pharmaceuticals, IT- BPO/BPM & Innovative Tech Solutions, and Tourism. More than 40 Indian businesses in the identified sectors participated in the roadshow showcasing their products and solutions.
Cebu Roadshow is a 2-Day event and includes, inter alia, expert panel discussions, B2B meetings, presentations and showcasing by the participating Indian businesses, signing of an Memorandum of Understanding (MoU) between CCCI and IBF and goodwill contribution by the Indian businesses. Cebu City Vice Mayor Raymond Alvin Garcia graced the roadshow where relevant stakeholders from across the government, business chambers and the media attended the event and celebrated Diwali, followed by a cultural performance and gala dinner last December 15, 2023.
The 1st edition of the India Business Roadshow in the Philippines was organized in a hybrid format in Baguio City on 28 November 2021 in partnership with the Philippine Economic Zone Authority (PEZA) under the Global Biz forum, with active participation from more than 10 Indian businesses. The 2nd India Business Roadshow was held in Davao City on 18 February 2022, with 10 participants from the Indian side and around 100 participants from the Philippines side. The 3rd India Business Roadshow was held in Cagayan de Or City on 18 May 2022, with 39 participants from the Indian side and 71 participants from the Philippines side. The 4th India Business Roadshow in llocos Norte was held on 27 March 2023, with 16 participants from the Indian side and 139 participants from the Philippines side. Most recently, an India Business Roadshow was held in Iloilo on 31 May 2023, with 40 participants from the Indian side and 161 participants from the Philippines side.
The India Business Roadshows have proven to be a practical means to further government to business and business to business engagements between India and the Philippines. It contributes to spreading awareness about business presence and expertise, showcasing of cutting-edge products and solutions, exchange of ideas and business concepts as well as strengthening existing and creating new connections for meaningful economic cooperation.