Philippines inks 18 deals with Indian business firms

BENGALURU, India — President Ferdinand Marcos Jr.’s first-ever state visit to India has yielded at least 18 business deals with local entrepreneurs.

Speaking to Indian business leaders in Bengaluru on Thursday, August 7, Marcos lauded the rapid development of the Indian economy, saying the Philippines had also been sustaining its growth.

“We have vigorously pursued critical structural reforms that make the Philippines a more attractive and more reliable destination for capital, for technology, and for talent. To our esteemed Indian partners, I want to assure you that the Philippine government stands ready to embrace your investments with open arms and with continuing and unwavering support,” Marcos told the leaders. 

Such measures included the CREATE MORE Act, as well as the green lanes for strategic investments have improved the country’s investment environment. 

A total of 18 deals were presented to Marcos at the forum, covering areas of education, healthcare, renewable energy and more. The deals are as follows: 

1. Memorandum of Understanding (MOU) – Bases Conversion and Development Authority (BCDA), Global Heavy Equipment and Construction Corp. (GHECC), ATD Waste-to-Energy Corp, and Uttamenergy Ltd.
2. Letter of Intent (LOI) – Capgemini Philippines
3. LOI – Carelon Global Solutions Philippines
4. MOU – Philippine Economic Zone Authority (PEZA) and Genpact Services LLC
5. MOU – PEZA and Veer-O-Metals
6. LOI – CostPlus Inc.
7. Undisclosed 
8. LOI – Hinduja Global Solutions Ltd.
9. LOI – Infosys BPM
10. LOI – iSON Tower Ltd. Inc.
11. MOU – Makilala Mining Company Inc. and Kiri Industries Ltd.
12. MOU – Dr. Lloyd Balajadia and CheQ Digital Private Ltd.
13. MOU – Dr. Lloyd Balajadia and DRA Group, India
14. MOU – Dr. Lloyd Balajadia and Pi Beam Labs Pvt Ltd (Fyn Mobility)
15. LOI – NephroPlus
16. LOI – Shearwater Health Advisor’s Inc.
17. MOU – Asia Defense and Firepower Corporation (ADFC) and SMPP Ltd.
18. LOI – Sutherland Global Services

The Philippines and India are still working towards a mutually beneficial trade agreement between the two nations. 

“As we strengthen our investment linkages, we are also looking to deepen our trade framework. The Philippines is ready to begin formal discussions on a Philippines–India Preferential Trade Agreement — a crucial tool that we believe can enhance two-way trade, encourage product diversification, and support modern supply chain integration,” Marcos said. 

Read More on https://www.philstar.com/business/2025/08/08/2464039/philippines-inks-18-deals-indian-business-firms/amp/