India-Philippines bilateral trade surges to $3.9 Billion in FY26

India and the Philippines are looking to expand cooperation across a range of sectors as bilateral trade between the two countries climbed to $3.9 billion in 2025–26, reflecting a steady upward trajectory in economic engagement.The discussions took place during the 14th meeting of the India-Philippines Joint Working Group on Trade and Investment (JWGTI), held in Manila. The meeting was co-chaired by Amit Verma, Joint Secretary in India's Department of Commerce, and Allan B. Gepty, Undersecretary of the International Trade Group under the Philippines' Department of Trade and Industry.

Bilateral trade between India and the Philippines reached USD 3.9 billion in 2025–26. At the 14th Joint Working Group on Trade and Investment (JWGTI), both sides reaffirmed their commitment to strengthening trade relations, boosting investment, enhancing market access, and… pic.twitter.com/A1h2rYSxxA

— Dept of Commerce, GoI (@DoC_GoI) June 5, 2026

According to the Ministry of Commerce and Industry, both sides reviewed recent trends in bilateral trade and investment, identified priority products and services, and explored opportunities to strengthen commercial cooperation across multiple sectors.The two countries discussed potential collaboration in areas including film production, energy, construction and infrastructure, information and communication technology (ICT), IT-enabled services, artificial intelligence (AI), and pharmaceuticals. Officials noted that enhanced cooperation in these sectors could generate long-term benefits, support developmental objectives, and strengthen economic ties between the two nations.
The meeting also acknowledged the strong growth in trade relations and emphasized the importance of creating a more business-friendly environment to facilitate greater commercial exchanges. Discussions covered customs cooperation, trade facilitation measures, agricultural cooperation, improved market access for specific products, and the possibility of settling trade transactions in national currencies.Another key area of focus was the ongoing review of the ASEAN–India Trade in Goods Agreement (AITIGA). Both sides discussed the importance of an early conclusion of the review process and explored prospects for engagement on a bilateral India-Philippines Preferential Trade Agreement (PTA) thereafter.
As part of the visit, officials also interacted with Indian businesses operating in the Philippines. The session provided an opportunity to discuss investment prospects, market opportunities, and measures to further strengthen commercial partnerships between the two countries.The Ministry of Commerce said the meeting underscored the strategic importance of deepening economic cooperation and reaffirmed the commitment of both governments to building a more dynamic, resilient, and mutually beneficial partnership.The next meeting of the India-Philippines Joint Working Group on Trade and Investment will be hosted in New Delhi.

(Business Correspondent)