Marcos Jr. to Press India on $5.8 Billion Investment Pledges at BRICS Summit

By Erika Mae P. Sinaking, Reporter PRESIDENT Ferdinand R. Marcos, Jr. will travel to New Delhi on Sept. 12-13 to attend the 18th BRICS Summit, where he is expected to press Indian companies to follow through on $5.8 billion in investment pledges made during his visit to India last year. Mr. Marcos and First Lady Marie Louise “Liza” Araneta-Marcos will attend the summit at the invitation of Indian Prime Minister Narendra Modi, the Department of Foreign Affairs (DFA) said on Wednesday. The summit, hosted under India’s 2026 BRICS chairmanship at Bharat Mandapam, will carry the theme “Building for Resilience, Innovation, Cooperation and Sustainability” and cover global economic uncertainty, digital infrastructure and climate action, the DFA said. “President Marcos will have the opportunity to outline the Philippines’ key priorities as ASEAN (Association of Southeast Asian Nations) chair to the BRICS members,” Foreign Affairs Assistant Secretary and spokesperson Analyn D. Ratonel told a news briefing at the Palace. “These priorities center on peace and security, people empowerment and prosperity.” She said the summit would allow the Philippines to track emerging economic arrangements, advance ASEAN priorities and engage directly with leaders of major emerging economies. Mr. Marcos will meet with Mr. Modi to review the Philippines-India strategic partnership and the five-year plan of action covering 2025 to 2029, Ms. Ratonel said. He is also scheduled to meet Indian business leaders to follow up on commitments made during his August 2025 visit to India. The pledges totaled $5.8 billion and covered technology, health, energy and infrastructure, she said. “The President’s program includes engagement with Indian business leaders to strengthen trade and investment ties with India,” Ms. Ratonel said. “The goal of the President’s meeting with business leaders in India is to follow up on the pledges and commitments made by Indian companies last year.” The 18th BRICS Summit, which marks the bloc’s 20th anniversary, is expected to draw leaders from founding members Brazil, Russia, India, China and South Africa, as well as partner countries, outreach nations and heads of international organizations, according to India’s Ministry of External Affairs. Mr. Marcos will attend the summit in his capacity as 2026 ASEAN chairman rather than as part of an effort to align the Philippines with any particular country, Ms. Ratonel said. “The President will participate in the summit in his capacity as the 2026 ASEAN chair. And it is not an effort to seek any bilateral alignment with any nation,” she said. The trip comes as the Philippines and China remain locked in a dispute over the South China Sea, with the two sides trading accusations over confrontations involving coast guard and naval vessels this year. Manila is also pushing a long-delayed code of conduct with Beijing as ASEAN chairman. Mr. Marcos has said the Philippines is open to studying BRICS membership, although Manila has made no formal move to join. Asked whether his attendance could open the door to membership or partner-country status, Ms. Ratonel said the matter remains under review. “As of now, since the invitation was extended to him in his capacity as ASEAN chair, the Philippines will continue to monitor developments in the region and engage constructively where appropriate to advance our interest,” she said. The Philippines will also consider the experience of other ASEAN states, including Indonesia, a full BRICS member, and Malaysia, Thailand and Vietnam, which hold partner-country status, she added. Beyond trade and investment, Ms. Ratonel said the Philippines seeks to deepen cooperation with India in defense and security, science and technology, climate resilience, agriculture and rice trade. She said the two countries could explore cooperation on flood mitigation given their exposure to monsoon rains, as well as other areas of climate resilience. The Philippines also sees room for greater cooperation on rice trade with India, one of the world’s biggest rice exporters, amid supply risks associated with El Niño. Asked separately about Defense Secretary Gilbert C. Teodoro, Jr.’s account of being handed a note by a Chinese delegation during a security forum speech in South Korea, which he described as disrespectful, Ms. Ratonel declined to elaborate. “We respect the statement and views of Secretary Teodoro. Other than that, I do not wish to further comment on this matter,” she said. Mr. Marcos will be accompanied by Foreign Affairs Secretary Ma. Teresa P. Lazaro, Information and Communications Technology Secretary Henry Rhoel R. Aguda and Finance Secretary Frederick D. Go.