Marcos Secures $446 Million in Direct Investments During India Visit, Strengthens Bilateral Ties

New delhi: President Ferdinand R. Marcos Jr. concluded his five-day state visit to India, securing USD446 million in direct investment pledges along with a commitment to enhance cooperation between Manila and New Delhi. According to Philippines News Agency, Marcos briefed the Philippine media delegation, expressing optimism about future commitments and investments. He highlighted the potential for further investments ranging from USD5.6 to USD5.7 billion, emphasizing India's strong economic position. The President described his inaugural visit as the beginning of a new chapter in Philippine-India relations, noting positive interactions with Indian leaders and business executives. Marcos emphasized the opening of new communication lines and expressed satisfaction with the visit's outcomes. During his visit, Marcos met with the Filipino community and held bilateral discussions with Prime Minister Narendra Modi and President Droupadi Murmu. The two nations signed 13 agreements covering areas such as defense, maritime cooperation, agriculture, fintech, and cultural exchange. In discussions with Indian media, Marcos reiterated his administration's stance on defending Philippine sovereignty amid tensions in the Indo-Pacific. He praised India for its adherence to international tribunal rulings on maritime disputes, contrasting it with China's stance on the 2016 arbitral award regarding the South China Sea. Marcos' visit concluded with a foreign policy address in New Delhi, urging democracies to protect global interests and uphold international law. In Bengaluru, he engaged with business leaders from sectors like IT, telecoms, pharmaceuticals, and infrastructure, encouraging Indian businesses to invest in the Philippines due to its skilled workforce and strategic location.