Indu Badlani Bhavnani, CEO, Project Space
The Philippines is a promising offshore destination, and the burgeoning local language services in the country is becoming increasingly important for foreign companies with operations there. As a result, the business process outsourcing (BPO) industry is expected to grow in the coming years. According to A.T. Kearney, a worldwide strategy and management consulting organization, Philippines ranks fourth in the world in terms of having a capable workforce with digital capabilities and software development skills, as well as a digital business environment equipped with technological innovation to improve the efficiency of core business services in diverse industries. Philippine's BPO Industry, as well as the cloud service industry, is predicted to generate $22.5 billion and $1.2 billion respectively in earnings by 2022. The strong growth of the Philippian'st economy and the increasing digitization of large corporations have fueled the expansion of outsourcing activities.
Technology is the Lifeline of MSMEs
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Top 10 Indian Leaders in Philippines - 2021
The economy of the Philippines is the world's 37th largest economy by GDP of over $330.91 billion. Before the pandemic period, Philippines economy was one of the world's best performers, with an average growth rate of 6.6 percent from 2012 to 2019. During the time of economic recession, Philippines' GDP fell to $3,430 in 2020 from $3,850 in 2019 witnessing a 9.6 percent contraction in GDP. Two third of the country's economy is comprised of consumer spending and it fell by 7.2 percent in 2020. It also caused the remittance of 10 million Filipino migrants and overseas workers. The country's economic growth is rooted in strong consumer demand supported by a vibrant labour market and robust remittances.
The country has an economic freedom score of 64.1 making its economy 73rd freest in the 2021 index. The decline in trade freedom had caused its overall score to decrease by 0.4 percent. The country is ranked 12th in the Asia Pacific region with an overall score which is above regional and world averages.
The country has liberalized foreign investment law and 100 percent foreign equity may be allowed in all areas of investment except those reserved for Filipinos. The country is considered as newly industrialized country. As of latest available data from the Philippine Census, there are around 177,000 foreign citizens living abroad in the country, 31 percent in the national capital region. According to the Ministry of Overseas Indian Affairs website, there are around 50,000 Indians living in the Philippines.
In this issue of CEO Insights, we bring you a list of 'Top 10 Indian Leaders in Philippines - 2021' who have contributed to the economic development of the country. The list has been crafted by a team of CEOs, VCs and the CEO Insights editorial board, thus delivering inspiring stories of their journey and the contributions & roles played by them in the creation and empowerment of a powerful nation.
|Company Logo||Company Management||Company Name||Company Description|
|Devadatta Sirdeshpande, Executive President & GM||Bioseed Research Philippines||Hailing from a farming background, he holds a Master's degree in agriculture from Dharwad Agricultural University with two management diplomas in Marketing & Human Resource Management and more than 25 years of professional experience|
|Indu Badlani Bhavnani,CEO||ProjectSpace||Understanding the gaps in IT and BPO business, and with an ultimate goal of making firms collaborate and support one another in ways that promote their growth, she established Project Space|
|Japjit Sobti ,CEO||Coforge Business Process Solutions||With impeccable leadership traits in entrepreneurship, he is a goal-driven operations strategist with skills in BPO, Team Management and Vendor Management|
|Ma. Ednalyn Capales,Rph - Registered Pharmacist||GetMeds||Has impeccable skills in Customer Service and Communication with success in Research & Management|
|Major Shizan Moin,President & MD||DB Schenker Global Business||Has emerged as an agile and nimble stalwart in the logistics industry, playing a pragmatic role in guiding his firm DB Schenker to greater summits|
|Nikhil Chopra,Founder & President||ReDefine Learning Consulting Services||Helps in Education Services with support for business development in OEM Acquisition & Partner Alliances, Key Account Management, Pre Sales & Support Operations and more|
|Parag Sachdeva,Group CFO & COO||Del Monte Foods||An inspiring leader who applies his 25+ years of experience to implement new ideas and propel businesses forward that make a positive difference for people and the planet|
|Pranay Anand,Co-Founder & Director||Valkyrie Management LLP||An impeccable leader in Marketing, Sales, Business Development, Team Management, Revenue Generation, and Branch Management, with 20+ years of experience in Hospitality, Hotels and Tourism|
|Reshma Nigam,President||Markable Solutions||An unparalleled leader in Business Strategy Development, Entrepreneurship, Thought Leadership, Consulting, Leadership & Mentoring and more|
|Saurin Shah,Founder & CEO||Rich Ams Global Sourcing||Having had a humble beginning to his career as a junior production coordinator in 1994, he is at the helm of one of the fastest growing garment companies in the Philippines and a thought leader in the industry|