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United News of India
05-08-2025
- Business
- United News of India
India, Philippines elevate ties to strategic partnership; focus on defence, Indo-Pacific
New Delhi, Aug 5 (UNI) India and the Philippines elevated their bilateral relationship to a "strategic partnership" following talks between Prime Minister Narendra Modi and visiting Philippine President Ferdinand Romualdez Marcos Jr. The move marks a significant upgrade in ties as the two nations seek to deepen cooperation across defence, trade, and the Indo-Pacific region. Addressing the media after delegation-level talks, Prime Minister Modi said, 'Dialogue at every level and cooperation in every sector have long defined our relations. Today, we held extensive discussions on mutual cooperation, regional issues, and the global situation. I am pleased to announce that we have agreed to elevate our ties to a strategic partnership.' Modi said a comprehensive action plan has been formulated to translate the potential of this new partnership into tangible results. 'Our bilateral trade continues to grow and has crossed USD 3 billion. To strengthen this further, we will prioritise the early completion of the India-ASEAN Free Trade Agreement review and move towards a bilateral Preferential Trade Agreement,' he said. 'The Philippines is a key partner in India's Act East Policy and SAGAR vision (Security and Growth for All in the Region). We are committed to peace, security, prosperity, and a rules-based order in the Indo-Pacific region. We support freedom of navigation in accordance with international law,' he said, highlighting India's broader East Asia policy. Highlighting the finalisation of the science and technology cooperation plan, PM Modi said, 'Indian companies are working in sectors such as information and digital technology, healthcare, automobiles, infrastructure, and minerals. In science and technology, joint research is underway — from virology to AI and additive manufacturing.' The regional centre of the International Rice Research Institute in Varanasi is working on ultra-low glycemic index rice. 'In other words, we are working together on both taste and health. I am happy to share that, under our Development Partnership, we will increase the number of Quick Impact Projects in the Philippines and support the development of sovereign data cloud infrastructure there,' Modi said. 'Our partnership on Earth is already strong — and now, we are preparing to collaborate in space as well. An agreement for this was signed today,' he added. The two sides also reaffirmed their commitment to peace, security, and a rules-based order in the Indo-Pacific. 'India and the Philippines are friends by choice and partners by destiny. We are committed to freedom of navigation in accordance with international law,' Modi said, while also thanking the Philippine government for condemning the recent terrorist attack in Pahalgam and expressing solidarity with India. 'Our growing defence ties are a sign of deep mutual trust. As maritime nations, maritime cooperation between our countries is both natural and necessary. We have worked together in humanitarian aid, disaster relief, and search and rescue operations. Today, while the President is in India, three Indian Navy ships are, for the first time, participating in a naval exercise in the Philippines. India's hydrography ship is also taking part,' Modi noted. 'We welcome Philippines' participation in the International Fusion Center set up by India for the Indian Ocean Region. We express our gratitude to the Government of the Philippines and the President for strongly condemning the terrorist attack in Pahalgam and for standing with us in our fight against terrorism,' he said. The agreements signed today on Mutual Legal Assistance and the Transfer of Sentenced Persons will further strengthen security cooperation between the two nations. Emphasising that the Cultural Exchange Programme signed today would further promote historic cultural ties, Prime Minister Modi also welcomed the Philippines' decision to offer visa-free entry to Indian tourists. India, in turn, has decided to offer free e-visas to tourists from the Philippines. Work is also underway to start direct flights between Delhi and Manila later this year. In his remarks, President Ferdinand Marcos Jr expressed gratitude for the warm welcome and underscored the significance of his visit, noting that he is the fifth Philippine President to visit India. 'This is a momentous decision to elevate our ties to a strategic partnership,' he said, adding that both sides had agreed to expand defence cooperation and promote naval and coast guard interoperability in the maritime domain. He highlighted the two countries' shared interest in ensuring safe navigation and maritime security in the Indo-Pacific, and reaffirmed the Philippines' commitment to a free, open, and rules-based regional order. 'We both have high stakes in the Indo-Pacific. As the incoming Chair of ASEAN, I thank Prime Minister Modi for his strong support,' President Marcos said. "We have decided to expedite the work on bilateral trade agreement, Visa free entry to Indian tourists to visit Philippines," President said. He also welcomed the resumption of private flights from October highlighting that safe navigation and security are also underscored the fact that both the countries have "high stakes in the free and open Indo-Pacific region". He said that as an "incoming chair of ASEAN, I thank PM for his support." UNI AAB PRS
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Business Standard
05-08-2025
- Business
- Business Standard
India and Philippines to work on bilateral preferential trade pact
India and the Philippines on Tuesday signed nine pacts, including a declaration and implementation of a strategic partnership, terms of reference for talks among the armies, air forces and navies of both countries, and cooperation on the peaceful use of outer space. The announcement of the strategic partnership was made after talks between Prime Minister Narendra Modi and visiting Philippines President Ferdinand R Marcos Jr, a day after the navies of India and the Philippines concluded a two-day joint exercise near Scarborough Shoal — an atoll at the centre of the maritime dispute between China and the Philippines in the South China Sea. 'India and the Philippines are friends by choice and partners by destiny. From the Indian Ocean to the Pacific, we are united by shared values. Ours is not just a friendship of the past, it is a promise to the future,' Modi said, with Marcos Jr by his side. 'As maritime nations, maritime cooperation between the two countries is both natural and essential,' Modi added. At a media briefing later in the day, P Kumaran, Secretary (East) in the Ministry of External Affairs, said India's position on the South China Sea is 'clear and consistent', adding that India has an 'abiding interest' in peace and stability in the region, and considers it part of the global commons. He also said that India is in talks with the Philippines for the development of submarine infrastructure. At his joint briefing with the visiting dignitary, the Prime Minister said trade between the two countries was increasing steadily and had crossed $3 billion. 'To further strengthen trade ties, it is our priority to review the India-ASEAN Free Trade Agreement at the earliest. We have also decided to work towards a bilateral Preferential Trade Agreement,' he said. India also extended a gratis e-tourist visa facility to Filipino nationals for one year. Marcos said the two countries had 'agreed to continue levelling up our collaboration in defence and security', adding that the 'expanding capabilities and footprint' of India's domestic defence manufacturing industry would support the Philippines' ongoing military modernisation. 'We will foster naval and coast guard interoperability via port calls, cooperative activities, and capacity building in the maritime domain,' Marcos added. New Delhi and Manila have shared concerns over China's assertiveness. Manila has a territorial dispute with Beijing in the South China Sea. Philippine military chief Romeo Brawner Jr has said Manila is considering ordering more weapons systems and equipment from India. The Philippines previously purchased a shore-based anti-ship missile system from BrahMos Aerospace — a contract worth 18.9 billion pesos ($329 million) — to boost its coastal defence. Prime Minister Modi said the two countries were elevating their ties to a strategic partnership, with greater emphasis on increasing interaction among the armed forces. He said the Philippines is an important partner in India's Act East Policy and MAHASAGAR (Mutual and Holistic Advancement for Security and Growth Across Regions) vision. 'We are committed to peace, security, prosperity, and a rules-based order in the Indo-Pacific region. We support freedom of navigation in accordance with international laws,' Modi said. He added that under the development partnership, India would increase the number of Quick Impact Projects in the Philippines and also cooperate in developing sovereign data cloud infrastructure. 'Today, when the President is in India, three ships of the Indian Navy are participating in a naval exercise in the Philippines for the first time,' he said. Modi also noted that Indian companies are active in sectors such as information and digital technology, health, automobiles, infrastructure, and minerals.
News18
05-08-2025
- Business
- News18
PM Modi, Philippines President Marcos Hold Bilateral Talks; Trade, Strategic Ties In Focus
Last Updated: The talks coincided with the 75th anniversary of diplomatic ties between the two nations Prime Minister Narendra Modi on Tuesday held bilateral talks with Philippines President Ferdinand Marcos Jr. in New Delhi, marking a significant step forward in India-Philippines relations. The leaders announced the elevation of ties to a strategic partnership, outlining a roadmap to deepen cooperation across trade, defence, regional security, and cultural exchanges. In a joint address following the talks, PM Modi emphasised the growing momentum in bilateral trade, which has now crossed $3 billion. #WATCH | PM Narendra Modi says, 'Dialogues at every level and cooperation in every sector have been the identity of our relations for a long time now. Today, the President and I held a detailed discussion on mutual cooperation, regional issues and international situations. This… — ANI (@ANI) August 5, 2025 'To further strengthen this, it will be our priority to complete the review of the India-ASEAN Free Trade Agreement at the earliest. We have also decided to work towards a Bilateral Preferential Trade Agreement," he said. Modi also thanked the Philippines government for strongly condemning the recent terrorist attack in Pahalgam and reaffirming its support in India's fight against terrorism. The talks coincided with the 75th anniversary of diplomatic ties between the two nations. PM Modi underlined that while formal diplomatic relations are relatively recent, civilisational links go back centuries. 'The Philippines' Ramayana — Maharadia Lawana — is living proof of our ancient cultural connection," he noted. The leaders also discussed a wide range of regional and global issues, with PM Modi stating that 'dialogues at every level and cooperation in every sector have been the identity of our relations for a long time now." An extensive action plan has been drawn up to implement the new strategic partnership, reflecting both countries' shared commitment to a rules-based regional order and enhanced economic integration. view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Nikkei Asia
04-08-2025
- Business
- Nikkei Asia
India hopes for 'some conclusion' of ASEAN FTA review by October
The ASEAN-India Trade in Goods Agreement entered into force in January 2010, but there has not been a formal review in the 15 years since. Typically, the first review of an FTA is undertaken within two years of implementation, one expert noted. (Nikkei montage/Source photos by AP and Reuters) KIRAN SHARMA NEW DELHI -- Even though much ground needs to be covered in negotiations to review the India-ASEAN free trade agreement by the end of this year, New Delhi is hoping for "some kind of conclusion" by late October when an annual summit with the 10-country grouping takes place.
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First Post
23-07-2025
- Business
- First Post
India-UK FTA: A bold new trade era set to take off
As Prime Minister Narendra Modi undertakes his fourth visit to the United Kingdom this week, the economic relationship that India has with the country has come into focus afresh. Both countries are going to sign a free trade agreement (FTA) during the PM's visit, which is his first since Keir Starmer came to power. The signing of the FTA will mark the culmination of three-year-long negotiations, a process that started in the year 2022 and saw both countries iron out significant differences to achieve a mutually beneficial deal. Once operational, this trading agreement is expected to boost India-UK bilateral trade from its current volume of $55 billion to $120 billion by 2030. STORY CONTINUES BELOW THIS AD The UK remains a key economic partner for India and is also the sixth-largest investor in India, with cumulative investments of around $36 billion. India itself is a key contributor to the British economy, with at least 1,000 Indian companies operating in the country, employing more than one lakh people, with a total investment of $20 billion. Inking an FTA with an emerging economic powerhouse like India is significant for the UK, and maybe this is why they have called it their 'biggest and economically most significant' bilateral agreement since exiting the European Union. For India, this FTA is equally important, as the country is an important market for Indian exports—one with which it also enjoys a modest trade surplus. The FTA is also crucial because it is one of those agreements that India has signed after overhauling its approach to trade liberalisation under the leadership of PM Modi. In 2014, when Modi came to power, one of the first things on his priority list was to review the existing trading arrangements that India had with countries across the world. Prior to this, the previous government had indiscriminately signed FTAs regardless of whether they were securing market access for Indian products or not. Within a decade, India had signed trade agreements with Singapore, ASEAN, Japan, South Korea, among others. This one-sided economic liberalism did provide the UPA coalition with an image of a progressive government that was doing a 'lot' for the country's economy, but by the time they went out of power, India's trade deficit with key countries—including China (with which there was no FTA but just ambitious bilateral trade targets)—had zoomed to unsustainable levels. The India-ASEAN FTA particularly faced a huge domestic backlash because it made India a dumping ground for cheap offerings, while Indian products struggled to survive. STORY CONTINUES BELOW THIS AD Naturally, the issue of the trade deficit and India's lack of capacity to compete in the global market was of grave concern to the Modi government, which preferred to adopt a strategic approach to FTAs—one that focused on securing market access for Indian products on a reciprocal basis. This was more than evident when his government put a pause on signing FTAs till 2021 and even withdrew from the China-dominated Regional Comprehensive Economic Partnership (RCEP). Though Modi faced a lot of flak from his detractors—who called him a socialist, a protectionist, and considered his move to not sign FTAs as adversarial to India's economic interest—he did not budge, as if he knew what was best to protect the country's economic interests. While a strategic pause was put on signing new trading agreements and a careful review of the existing ones was being undertaken, his government took concrete steps on one very important front—building India's indigenous manufacturing capacity so as to compete effectively at the global level. The spirit of Aatmanirbhar Bharat, the early launch of the 'Make in India' program, and the game-changing Production-Linked Incentive Scheme were some of the essential steps that were taken before actually boarding the FTA wagon again. STORY CONTINUES BELOW THIS AD Along with this, the government was also planning a new approach to integration with the global economy, where emphasis was on using this integration to boost India's economy and not just become a market open to exploitation by much more developed countries. When India signs the FTA with the United Kingdom this week during PM Modi's visit, the changed approach to bilateral trading arrangements would be more than visible. Because this time, it has literally put in unprecedented efforts to negotiate a favourable deal with a much-developed economy. The FTA with the UK is set to provide duty-free access to 99 per cent of Indian goods, with key sectors such as automobiles—including electric vehicles—engineering goods, sports goods, and even services benefiting. Most importantly, India, being a labour-intensive economy, will gain access to a wide market, particularly for its leather products, apparel and footwear, toys, marine products, and gems and jewellery. In the last decade, the Modi government's efforts to revive the electronics sector—making it a leading engine of the country's manufacturing story—will be suitably rewarded by this trade deal, as electronics exports from India to the UK have already surged from $450 million in 2020 to $1.7 billion in 2023. India's textiles sector will also benefit from the FTA, which already exports knit apparel and raw materials worth Rs 1.5 billion to the United Kingdom annually. The sheer scope of job creation due to a boost in these exports is going to be huge, with the country's large and cost-wise globally most competitive labour force finding meaningful avenues for employment. STORY CONTINUES BELOW THIS AD Interestingly, India has also allowed for liberalisation in the auto sector—but on a strictly reciprocal basis and that too with well-thought-out caution in place in the form of a quota-based easing of tariffs. This will definitely provide traction to Indian automakers in the UK market, unlocking newer opportunities for them. Another interesting aspect of the trade deal is India's access to the British public procurement market. This means Indian firms will be handed non-discriminatory treatment while applying to fulfil public procurement tenders floated by the UK government. While the exact figures for the UK's total procurement are not available, it is estimated to be an opportunity worth hundreds of billions of pounds that Indian suppliers can now readily tap into. In return, India has also allowed UK-based businesses to participate in public procurement contracts—but only in non-sensitive sectors, with a caveat that they must have at least 20 per cent Indian content. STORY CONTINUES BELOW THIS AD Along with other wins, a crucial victory for Indian negotiators is the provision for exemption from UK's social security contributions in the form of the Double Contributions Convention Agreement (DCCA). Due to this, Indian workers who are temporarily in the UK—and their employers—will not have to contribute anything towards social security in the country, thus leading to savings of around 20 per cent of their salaries. This will set a good precedent for other developed countries to follow with India. India's unexplored side as a tough negotiator has really come to the fore through this deal, as India has also secured exemption for sensitive agricultural products such as dairy products, apples, cheese, oats, etc., which would have collapsed due to fierce competition from British products in the category. Even sensitive industrial goods that need protection before they can compete globally—such as plastics, optical fibres, TV camera tubes, etc.—have also been excluded from the deal. On certain other goods, India has agreed to cut duties only on a gradual basis over a longer period of time. This also includes liquor, where duties will be reduced only over a period of ten years so as to protect the domestic market. STORY CONTINUES BELOW THIS AD This week, when PM Modi signs the FTA with the UK, it will not only signal India's new-found willingness to integrate with the global market, but it will also demonstrate its resolve to do it only on beneficial terms. The days of signing FTAs for the sake of appearing liberal and seeking validation from economists are over for India. This dispensation has shown that it is willing to walk the talk of trade liberalisation with the developed world—but only when it also boosts the country's own economy. The agreement is an example of India's growing assertiveness in the domain of foreign economic policy, and other developed countries who are looking to seal a deal with India must duly take note of it. The author is a New Delhi-based commentator on geopolitics and foreign policy. She holds a PhD from the Department of International Relations, South Asian University. She tweets @TrulyMonica. The views expressed in the above piece are personal and solely those of the author. They do not necessarily reflect Firstpost's views. STORY CONTINUES BELOW THIS AD
