As Guyana continues to experience transformative growth, its partnership with India in areas such as energy security, education, agriculture, and multilateral cooperation is set to play a crucial role in shaping a prosperous future for both nations. This friendship promises to yield significant benefits, contributing to global efforts in energy, climate, and food security while enhancing the well-being of their citizens.
Energy Security: A Pillar of India-Guyana Relations
India, with its extensive experience and advancements in renewable energy, is a crucial partner in Guyana’s energy transition. Collaborative projects and knowledge exchange between the two nations can enhance Guyana’s efforts to achieve its energy goals. The synergy between India’s technological expertise and Guyana’s natural resources can pave the way for innovative energy solutions, benefiting both countries.
According to Ms Ronalda Edwards-Horatio, CDA of Guyana in India, the Caribbean nation is experiencing transformative growth, primarily driven by its rapidly expanding oil and gas sector. With a remarkable growth rate of 38 percent in 2023 and projections of 20 percent annual growth until 2028, Guyana is poised to become the largest oil producer per capita and the fastest-growing economy globally. “The government’s investor-friendly policies and a robust private sector have spurred significant investment opportunities, particularly in energy,” she adds.
In her address on the 58th independence anniversary celebrations in New Delhi recently, she said that despite its reliance on oil, Guyana is committed to sustainable development. The country is using its oil and gas revenues to finance a transition to renewable energy, maintaining its status as a net carbon sink even as its economy doubles in size by 2027. This balanced approach ensures that Guyana’s growth is both economically and environmentally sustainable.
Diversifying Guyana’s Economy
Ms Ronalda Edwards-Horatio stated that her country is modernizing its traditional economic sectors to build a diversified and resilient economy. Agriculture, tourism, healthcare, infrastructure, and industry are key areas of focus. This diversification is part of the Low Carbon Development Strategy, ensuring sustainable resource utilization and inclusive development.
Food Security
In agriculture, Guyana is positioning itself as the breadbasket of the Caribbean. The country leads the CARICOM regional food security agenda, aiming to reduce the US$7 billion food import bill by 25 percent by 2025. This ambitious goal is pursued through regional collaboration and addressing systemic policy changes. “India’s technical assistance and expertise play a significant role in modernizing Guyana’s agricultural sector, enhancing yields, and diversifying production,” she adds.
Defence Cooperation
She says that Guyana sees India as a valued and strategic partner and recognizes the importance of building capacity and capabilities in the areas of defence and security.
As reported previously in FinancialExpress.com over the last two years defence cooperation between the two countries has deepened with extensive training and the building out of human capacity for both commissioned and non-commissioned officers of the Guyana Defence Force.
Under one of the economic and technical cooperation programmes with India, Guyana has purchased two Hindustan Aeronautics Limited (HAL)- manufactured Dornier 228 air crafts. These aircraft will serve to enhance the fleet of the Guyana Defence Force Air corp.