The Southern Gujarat Chamber of Commerce and Industry (SGCCI) conducted a virtual meeting with Guyana’s in-charge Ambassador to India, Ronalda Edwards Horatio, in a hopeful step for commerce between India and Guyana on Wednesday. During the discussion, Ambassador Horatio mentioned the likelihood of a significant rise in Indian imports, projecting a growth rate of 20-25% for the fiscal year 2023-24.
Guyana’s import portfolio from India comprises a diverse range of goods, including pharmaceuticals, iron and steel, electrical machinery and parts, machinery and mechanical appliances, gems and jewelry, ceramics, textiles, and more. Last year, the South American nation imported goods worth $65 million from India, showcasing the existing potential for bilateral trade.
This virtual interaction between the SGCCI and Ambassador Horatio took place within the framework of SGCCI’s Global Connect Mission 84, a strategic initiative aimed at boosting exports from the Surat and Gujarat region during the fiscal year 2023-24.
Ramesh Vaghasia, President of SGCCI, highlighted the primary objective of the SGCCI Global Connect Mission 84, which centers on increasing exports from the Gujarat region in India. Vaghasia requested that Guyana consider importing a variety of products from the Gujarat region, including pharmaceuticals, cement, gems and jewelry, ceramics, textiles, and more.
During the meeting, Paresh Bhatt, the Project Head of Mission 84 for the Chamber of Commerce, delivered a comprehensive presentation outlining the objectives and benefits of SGCCI Global Connect Mission 84 to Ambassador Horatio. Bhatt emphasized that importing the required products from the Gujarat region through Gujarat’s ports could lead to more cost-effective logistics for Guyana.
“As both nations explore opportunities for growth and cooperation, the SGCCI’s Global Connect Mission 84 serves as a platform to foster economic ties and facilitate the exchange of goods, ultimately benefitting businesses and consumers in both countries.” Said Vaghasia.