It will be easier to answer this question if the objective is clear. Do you want to 'trade' in items from the Philippines? Or are you moving there ?
If the answer is the former, there are quite a few items which are cheaper in Philippines than in India. Mainly foodstuff. But the cost of logistics and freight evens out with foodstuff trading from India.
If you are moving to the Philippines, rest assured that the you will save more there than in Mumbai or Bangalore ( given the same salary in USD). The cost of living for comparable standard of living is much less there.
Even the manpower costs are lower in the Philippines...which explains the mushrooming of outsourcing centers in the last decade there.
Hope this helps. Help me help you by giving me more specific details of your enquiry. Cheers!