The Philippines and India have agreed to strengthen ties to further improve the information technology and business process management (IT-BPM) industry of the two countries.
This is made official through a memorandum of understanding (MOU) signing between the IT and Business Process Association of the Philippines (IBPAP) and India’s NASSCOM, resulting to a joint NASSCOM-IBPAP apex council with members from the two industry groups that will be tasked to deliberate and facilitate actions to address common challenges encountered by the IT-BPM industry on a global scale.
Considered as two global leaders in the said industry, the Philippines and India will collaborate for mutual assistance and joint programs to further boost smaller industries and opportunities across the IT-BPM sector.
“With these two leading IT-BPM organizations sharing the common vision to uplift the lives of millions through education, training, and career development, the shift towards a digital future is one filled with opportunity for millions of lives,” Trade Secretary Ramon Lopez said.
“In this global economy, the continued partnership between IBPAP and NASSCOM allows us to leverage the strength of both countries’ IT-BPM industries to stimulate their respective economies,” Trade Undersecretary Nora Terrado added.
The cooperation agreement was first signed by the IBPAP and NASSCOM in 2016.
“This 12-year commitment has already borne fruit. Within IBPAP alone, there are 21 Indian-owned companies who contribute approximately $1.6 billion in annual revenue and employ approximately 52,000 people. We expect continued mutually beneficial outcomes for all parties, while addressing key issues and circumstances that may arise within the IT-BPM sector together,” IBPAP board advisor Bong Borja said.