CCCI, India biz chambers to host B2B meeting

SOME 22-member India Business Trade delegation will be in Cebu next week to discuss potential investments in the Philippines, particularly in Cebu.

This business-to-business (B2B) matching is organized by the Cebu Chamber of Commerce and Industry (CCCI) and the Federation of Indian Chamber of Commerce Inc. (Ficci) in the Philippines together with the Embassy of India and the Federation of Indian Export Organization.

The inbound business-to-business trade mission is scheduled on Nov. 16, 2022, at Seda Central Bloc in Cebu IT Park, Cebu City. CCCI and Ficci are inviting the Cebuano business community to participate in the B2B matching. Interested participants may register through https://forms.gle/YfkTEEj25PdwJXMYA or contact CCCI office for further details.

The trade delegation from India represents a wide range of sectors from agriculture, agriculture and manufacturing/processing, meat manufacturing/processing, pharmaceutical, medical, and laboratory to textile clothing, ceramic and engineering products, automotive, stationery packaging, and box/board packaging, among others.

“The event is aimed at encouraging Cebuano entrepreneurs to open themselves for linkages and market access deals with Indian partners, the business-matching event is eyed to generate new businesses via joint ventures and/or outsourcing contracts as more investors are now looking at Cebu as a strategic gateway to the Association of Southeast Asian Nations market,” CCCI said.

Foreign Affairs Undersecretary Ma. Theresa Lazaro said in a report that India is the Philippines’ 13th largest trading partner, and bilateral trade rose by more than 35 percent from 2020 to 2021.

Bilateral trade

In 2020, India exported US$1.56 billion to the Philippines. The main products exported from India to the Philippines were packaged medicaments ($228 million), motorcycles and cycles ($116 million), and semi-finished iron ($103 million). During the last 25 years, the exports of India to the Philippines have increased at an annualized rate of 10 percent, from $143 million in 1995 to $1.56 billion in 2020.

In 2020, the Philippines exported $631 million to India. The main products exported from the Philippines to India were refined copper ($82.7 million), gold ($78.4 million), and office machine parts ($67.1 million). During the last 25 years, the exports of the Philippines to India have increased at an annualized rate of 14.8 percent, from $20 million in 1995 to $631 million in 2020.

Indian investment in the Philippines is mainly in the areas of textiles, garments, information technology (IT) and IT-enabled services, steel, airports, chemicals, automobiles and pharmaceuticals. One of the big investments made by India is the entry of GMR Group Ltd., the company that collaborated with Megawide Construction for the development of the Mactan-Cebu International Airport’s Terminal 2.

Indian IT companies also entered the Philippine shore and set up business process management operations like Wipro, TCS, L&T Infotech, Innodata, IL&FS Genpact, Infosys, HIGS (Hindujas), Tech Mahindra, etc. It also made big investments in automotive and pharmaceuticals among others.

Meanwhile, Philippine investments in India are modest and in the fields of telecommunications, information technology, real estate and reprocessing of waste and human resource development (management education).

Some of the companies operating in India are V. Merida (processing of waste), Ayala (Construction & ITES); Philippine Wireless (paging service), SPI Technologies (ITES); Del Monte and Liwayway (food processing), Lloyd Lab (pharmaceuticals), etc. The biggest investment for the Philippines to India is the LNG plant being set up in Kokinada (AP) by AG&P Philippines. (KOC)