India’s Prime Minister Modi: ‘No wonder’ many IT companies invest here’

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Indian Prime Minister Narendra Modi was all praises to the Philippines’ service sector during his interview with reporters before his bilateral meeting with United States President Donald Trump alongside the ASEAN Summit in Manila.

India’s leader remarked, it is no wonder many of New Delhi’s IT companies have invested in Manila. He also praised the Philippine government’s efforts to implement change, specifically Duterte administration’s initiative to push infrastructure growth and intense drive against corruption to make a more conducive business environment.

According to Modi during his keynote address at the Association of Southeast Asian Nations (ASEAN) Business and Investment Summit, “No wonder so many of our top IT companies have invested here. They (Philippine government) are creating thousands of jobs and promoting the Philippine service sector worldwide.”

India used to lead the largest number of voice-based business process outsourcing services in the world before the position was taken by the Philippines in 2011.

Since then, the BPO industry became a lucrative business in the country with over 1.5 million employed Filipinos. It is also one of the top 2 earners of foreign exchange.

Indian Prime Minister Narendra Modi during his visit at the International Rice Research Institute in Los Baños, Laguna.

Source: Rappler

Presently, Modi said India is poising itself to be a ‘global manufacturing hub’ with hopes that the Southeast Asian countries eye the same business potential in New Delhi that he sees in the region.

“Just as India sees business opportunity in the region, I am sure ASEAN recognizes business potential in India,” he said.

Modi noted that the Philippines and India are similarly among the fastest growing economies in the world.

“Here in Philippines, also the government want to see change, bring about inclusive growth,” he said. “We are both pluralistic societies and vibrant democracies.”

The Indian Prime Minister also visited the International Rice Research Institute in Laguna, and inaugurated the Resilient Rice Field Laboratory.

 

Source: Rappler

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