Indian technology and manufacturing firms including VVDN, Hinduja, HCLTech and Cognizant have committed a combined $66.78 million to Philippine expansion.
President Ferdinand Marcos Jr. described the Philippine economy as more than steady while acknowledging higher inflation, rising unemployment and growing public debt.
Industry veteran Edmund Araga says most local makers of electric two- and three-wheelers have closed under pressure from Chinese imports, and wants more support for the segment.