Manila, Nov. 15 -- Ambassador of India to the Philippines Harsh Kumar Jain said on Sunday that despite bilateral trade rising to USD 3.9 billion in 2025-26, New Delhi and Manila are capturing only a fraction of their economic potential, with Manila accounting for just 3% of India's trade with ASEAN despite contributing nearly 11% to the bloc's GDP.

Underscoring the need to bridge this gap ahead of Prime Minister Narendra Modi's visit to Manila for the ASEAN-related summits, Ambassador Jain pointed to the ongoing review of the ASEAN-India Trade in Goods Agreement and the proposed India-Philippines Preferential Trade Agreement (PTA) as key drivers to unlock deeper commercial ties.

"Our economic relations are growing, but the potential is ...