President Ferdinand R. Marcos Jr. cited stronger diplomatic ties, investment commitments and expanded cooperation in key sectors as gains from his recent visit to India for the 18th BRICS Summit.
Marcos returned to the Philippines early Monday after representing the Association of Southeast Asian Nations (ASEAN) at the two-day BRICS Summit in New Delhi, where he also held a series of meetings with Indian business and government stakeholders.
“Personal conversations” with fellow leaders helped improve mutual understanding and strengthen diplomatic ties, Marcos said in a media briefing prior to his departure from India Sunday.
“You have a better understanding of each other. You have a better understanding of their country, what their concerns are. And that’s valuable. That’s very valuable,” he said.
Marcos also cited prospective Indian investments in the Philippines as a key outcome of his meetings with business leaders.
He said some Indian companies already operating in the Philippines committed to expanding their operations, while others expressed plans to enter the Philippine market.
“So, a great deal was done,” Marcos said.
On the sidelines of his India visit, Marcos met with Indian stakeholders on disaster resilience, railway technology, space research, digital payments and infrastructure development.
He met with executives of GMR Group and representatives of Cavitex Holdings, Inc. to advance the development of the Sangley Point International Airport project in Cavite.
He also met with executives of iSON Group to discuss expanding its operations in the Philippines.
The group pledged a total investment commitment of USD75 million for modern farming and renewable energy, healthcare and 24/7 teleconsultation, expected to generate about 2,000 jobs.
An additional USD10 million was pledged for the expansion of business process outsourcing and the integration of global delivery centers.
Marcos also advanced cooperation with NPCI International Limited on digital payments, including a partnership with LandBank of the Philippines to explore India’s Unified Payments Interface-based payment system in the Philippines.
The initiative could help improve the efficiency of government payments, QR payment interoperability and cross-border transactions for Filipinos and businesses.
The President likewise met with officials and members of the Coalition for Disaster Resilience, with the Philippines set to become a member of the group.
Marcos attended the BRICS Summit as ASEAN chair and as one of the bloc’s Outreach Countries, giving the Philippines an opportunity to engage major economies beyond its traditional diplomatic circles.
He said the summit also allowed him to meet leaders from Africa and Latin America whom he would not normally encounter in other international gatherings.
“Policy and ideology are front and center, but personal relationship plays a big part in diplomacy,” Marcos said, adding that personal ties give leaders greater confidence to communicate directly when concerns arise. (PNA)
