India, July 23 -- India and the Philippines are working towards a Preferential Trade Agreement (PTA) to expand bilateral trade and investment, Philippine Ambassador Josel F. Ignacio said. Bilateral trade, which crossed US$3 billion in 2023, is now approaching US$4 billion, driven by growing cooperation in technology, renewable energy, semiconductors and infrastructure.

Key Highlights India and the Philippines are working on a Preferential Trade Agreement (PTA). Bilateral trade is nearing US$4 billion after surpassing US$3 billion in 2023. The Philippines is encouraging more Indian investments in IT, pharmaceuticals, infrastructure and business services. Both countries see strong opportunities for collaboration in semiconductors, renewab...