The Department of Trade and Industry - Export Marketing Bureau (DTI-EMB) is encouraging local producers to increase exports to India, to access its “very promising” market and diverse consumer base, and bring in close to $567 million more in trade.

According to DTI-EMB Assistant Director Dr. Jhino Ilano, the unrealized export potential of the country in the Indian market may be valued at around $566.92 million. 

The bulk of it – $436.96 million – lies in exports of machinery and electronic equipment exports, while $3.94 million can be garnered from exporting processed food. 

Personal care and beauty products is valued at $1.40 million, and horticulture at  $1.12 million.

“(And) if you look at the value of imports versus exports, they are both at 4 percent so there is an opportunity for us to really make our exports higher than what we are importing from it,” said Ilano to members of the Philippine Exporters Association (PHILEXPORT) during an info session organized by the DTI-EMB.

He focused on the untapped potential of exporting Philippine food products such as pineapple and other jams mixed with fruits or edible plants. 

“Simply saying that if you want to sell products to India, the best thing to sell to them would be food. Because the major observation is this: people in India are not actually fond of cooking food for themselves because they are very busy trying to get two to three jobs to maintain a lifestyle. So that’s the reason why in India, there are a lot of vendors that are actually selling food,” he said. 

Coconut may also be an ideal export good from the country to India given Indian consumers’ preference for using coconut oil. Hair coloring cosmetics may also be considered to have a growing market in India, he added.   

In terms of agricultural products, Ilano also mentioned desiccated coconut, seaweeds and algae, cashew nuts, and fresh and dried mangoes as possible export selections to India. 

“A simple logic would tell you that even if the [export potential] is mostly in the electronics industry, this will have a ripple effect on the food manufacturers… If, for example, Toshiba decides to invest in the Philippines, it will locate here, obviously, many will have jobs. If people have jobs, they will need something to replenish all the energy that they have lost and they will get it from food that many of you are actually producing,” Ilano explained to exporters. 

He also mentioned that the country can dabble into exporting education and training services, especially in the creative sector, by entering the “Bollywood” entertainment industry. 

Lastly, Ilano explored franchising as a potential business opportunity. 

“Obviously, the food manufacturers would be part of the franchising that can be promoted in India. According to the Philippine Franchise Association which is a self regulating governing body of franchising for the Philippines, the Indian franchise business is expected to touch (US$) 140 (billion) to 150 billion in the next five years so this is a good opportunity for food manufacturers to venture in,” he added.