India and the Philippines share a lot of common denominators.

One of the most notable is how both economies are similarly driven by digital technology, enabled by young and vibrant populations who, in the words of Indian ambassador Shambhu Kumaran, "look up to technology as a cost-effective solution to contemporary problems.

Partnerships are most proactive when they're mutually beneficial and, thus, the embassy in Manila and the Department of Information and Communications Technology organized the first-ever India-Philippine Tech Summit at Shangri-La Fort on 5 March, which brought together Indian and Filipino founders, leading tech enterprises and investors to learn from each other's winning ideas on "techpreneurship."

IPTS provided an opportunity for networking, as well as G2B and B2B partnerships.

Also on display were innovative digital products and solutions from India's vibrant digital ecosystem, mostly by enterprises from the sectors of agriculture, finance and health.

In agriculture, for instance, "India has, in less than 50 years, transformed from a food grain-importing nation to the world's largest exporter of rice and the world's largest producer of multiple food grains and agriculture products, a fact it made possible through the use of technology as a critical enabler of the production process."

"Our political engagements, especially in the run-up to the 75th anniversary of the establishment of diplomatic relations this year, have intensified, resulting in positive developments on multiple fronts most notably on the strategic and economic side," Kumaran said.

"Our trade has surpassed $3 billion in volume and continues to grow by leaps and bounds with India's Act East Policy working in synergy with the Philippine's own open and business-friendly approach."

Major Indian IT companies have a significant presence in the Philippines, contributing immensely to shaping the country's technology landscape.

India's digital economy went through a dramatic transformation and has become a global success story, one that leverages digital tech to improve the quality of lives of its billions of people.