Prime Minister Narendra Modi's visit to the Philippines is set to open a new chapter in economic engagement between the two nations, according to Vishal Vishnu Hathiramani, President of FICCI Philippines. Speaking on 13 November 2026, Hathiramani described the visit as a potential catalyst for deeper commercial ties across trade, investment, and strategic sectors.

Trade Trajectory and What Modi's Visit Could Unlock

Bilateral trade between India and the Philippines has already doubled — from approximately $2 billion in 2016 to around $4 billion at present. Hathiramani believes this upward trajectory could be sustained, with the possibility of trade doubling once again over the next decade if the current momentum holds.

'In 2016, we were a 2-billion trade partner, and as we speak now, we're doing 4 billion. So this is double the economy between the two countries. So with this visit, who knows, it might double once again in the next 10 years,' he said.

Notably, Modi had also visited the Philippines in 2017, and the two countries have since formalised a strategic partnership — a framework that Hathiramani says lends institutional weight to the current momentum.

Tourism, Direct Flights and Visa-on-Arrival as Growth Enablers

Hathiramani identified tourism as among the most immediately promising sectors for bilateral growth. The introduction of visa-on-arrival facilities for Indian citizens travelling to the Philippines, alongside the launch of direct flights between the two countries, has significantly reduced friction for travellers and business visitors alike.

'Currently, the sector that I see where I can see a big boost or jump would be tourism. That's because of the visa on arrival for Indian nationals to the Philippines and direct flights,' he noted.

IT, BPO, Pharma and Defence in Focus

Beyond tourism, Hathiramani pointed to IT, BPO, and pharmaceuticals as sectors where both economies have complementary strengths and existing business relationships ready to scale. He also flagged defence cooperation as an increasingly significant pillar of the bilateral relationship, anchored by the BrahMos missile agreement that the Philippines signed with India in recent years.

'I see all this taking a jump, and recently in the last few years, as you know, Philippines signed the BrahMos deal with India. So I see a lot of bilateral cooperation in defence and military partnership between the two countries,' he said.

Strategic Partnership Adds Institutional Momentum

This comes amid a broader recalibration of India's engagement with Southeast Asia, with the Philippines emerging as a key node in New Delhi's Act East Policy. The formalisation of the strategic partnership between the two nations provides a durable institutional framework for expanding ties across both economic and security domains. Industry observers note that the BrahMos deal, in particular, signals a maturation of the defence relationship beyond traditional aid and training.

With sectoral interest high and structural enablers — direct connectivity, visa facilitation, and a strategic partnership — already in place, the coming months will test whether political momentum translates into measurable commercial outcomes.