India-Philippines Trade Ties Elevated to Strategic Partnership

In a significant development for India-Philippines relations, a CEO roundtable on Wednesday in New Delhi saw key discussions on bolstering bilateral trade and investment. The event featured prominent figures including Commerce Minister Piyush Goyal and Philippines President Ferdinand R. Marcos, who is currently on a five-day state visit to India.

The meeting highlighted efforts to improve the Ease of Doing Business, focusing on sectors like health, pharma, IT, science & innovation, education, and agriculture. Minister Goyal noted the decision to elevate ties to a Strategic Partnership, a move poised to expedite the Preferential Trade Agreement negotiations to further enhance trade between the nations.

Defense cooperation was also on the agenda, with President Marcos expressing gratitude for India's support in the defense industry, notably the export of platforms like the BrahMos. Celebrating 75 years of diplomatic ties, both nations have eased visa norms. India announced free e-visas for Filipino tourists, complementing the Philippines' visa-free entry for Indians, alongside the upcoming launch of direct Delhi-Manila flights.

(With inputs from agencies.)