Indian firms to expand Philippine operations

NEW DELHI, India — President Ferdinand R. Marcos Jr. said the government has secured expansion commitments from Indian companies during a series of meetings with business groups at the Taj Mahal Hotel in New Delhi on Saturday, covering agriculture, healthcare, digital payments, aviation, artificial intelligence (AI), telecommunications and other technology-driven industries, without yet disclosing the total amount of investment pledges.

According to Trade and Industry Secretary Maria Cristina Roque, various Indian companies expressed confidence in the administration’s economic policies and their intention to expand operations in the Philippines.

“We were able to meet important companies that are already in the Philippines and have expressed expansion plans. They are very positive about the economic policies of the President,” Roque said Saturday in an interview.

iSON Group

President Marcos met with the iSON Group, a New Delhi-based conglomerate with businesses in agrotechnology, healthcare, telecommunications, information technology, renewable energy, business process outsourcing (BPO) and insurance.

The iSON Group, according to Roque, discussed expansion plans in three key areas: agricultural technology, healthcare, and BPO and digital infrastructure.

“They want to improve technology in the agriculture sector. Agriculture and food security are among the main priorities of the President, so any advancement in agricultural technology is important to the country and definitely to the President,” she said.

For its expansion plans, the iSON Group has committed $75 million in new and scaled-up investments in the Philippines, expected to generate around 2,000 jobs.

The investments include a proposed $50-million agro-solar project, healthcare and 24/7 teleconsultation services, and a $10-million expansion in BPO and global delivery centers.

Roque said the proposed teleconsultation service could help address healthcare access challenges in far-flung communities.

“We are a country of 7,600 islands, so sometimes it is difficult to consult a doctor, especially when the nearest facility is in another town. Through teleconsultation, Filipinos can consult doctors online,” she said.