In a bid to add further depth to the flourishing bilateral relationship, India and Philippines have commenced the negotiations on a new investment treaty as the two nations look to accelerate the upswing in economic engagement, Economic Times.
The first round of the talks was held for the same last week virtually. It involved officials from India's Department of Economic Affairs and Philippines' Department of Trade and Industry.
It should be noted that the two nations had first exchanged their respective drafts for a new model bilateral investment treaty a few years ago.
In the recent past, Indian companies have made significant investments in the Philippines. While Wipro Enterprises had in 2019 completed a $200 million acquisition of Philippines' personal care brand Splash, infrastructure developer GMR had also completed the building of two major airports in Cebu and Clark cities.
Meanwhile, Philippines' Ayala Corporation has also bet on India's booming solar energy market. It had earlier invested $100 million in a solar project in Rajasthan and has now announced another $36 million investment in a 70-megawatt solar energy project in Gujarat's Amreli.
As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.
Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.
We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.
Becoming a Patron or a subscriber for as little as Rs 999/year is the best way you can support our efforts.