India’s External Affairs Minister, Subrahmanyam Jaishankar (sixth from left); Guyana’s Finance Minister, Dr Ashni Singh (fourth from right), India/Guyana Chamber of Commerce Head, Ramnaresh Sarwan (fifth from left); Founder and President of Texila American University, Mr Saju Bhaskar (third from right), and other government officials and private sector officials at the launch of the Chamber
Bilateral business ties between Guyana and India marked a new milestone with the establishment of the India-Guyana Chamber of Commerce (IGCC).
Aimed at intensifying private sector participation in infrastructure projects and business development, IGCC will work towards strengthening the investment and trade potential between Guyana and India, promoting technology transfer and cultural ties as well as nurturing a culture of innovation, entrepreneurship, and sustainability.
IGCC has set its sights on not only promoting business interests but also committed to developing a community that will be built on strengths of shared values and mutual respect, and that will prioritize ethical and responsible business practices.
IGCC will hope to address urgent problems that communities and businesses in Guyana and India are facing and provide solutions.
IGCC has stepped into the trade arena at a time when colossal oil discoveries have catapulted Guyana into an industrial hotspot.
India’s historic relations with Guyana bode well for a dynamic partnership in driving the monumental economic transformation that Guyana is headed for.
Former cricketer Mr Ramnaresh Sarwan is the President of the India-Guyana Chamber of Commerce whose formation was announced during a business roundtable event in Guyana in the presence of visiting Indian External Affairs Minister Dr. S Jaishankar, who co-chaired the 5th India-Guyana Joint Commission Meeting with Foreign Minister Mr Hugh Todd in capital Georgetown end of April.
Mr Kalamazad Ibrahim is the First Vice President, Mr David Fernandes and Mr Steven Jacobs are the Sr. Vice Presidents of IGCC, while the Banker Ms Shaleeza Shaw is the Treasurer. Founder and President of Texila American University Consortium, Mr Saju Bhaskar, is the Secretary, and Ekaa Hrim Earth Resources Management Operations Director Mr Sreebalakumar is the Joint Secretary of the organization.
Minister Dr Jaishankar said India hopes to work with Guyana as a key development partner in its initiatives to diversify its economy beyond the oil and gas industry. He also highlighted key focus areas such as agriculture, energy, health and pharmaceutical besides defence cooperation, human resource development, innovation and infra development, where both the countries can forge key partnerships.
The idea of IGCC was conceived with the aim to build stronger economic ties between India and Guyana. The visit of Guyanese President His Excellency Dr Irfaan Ali and Vice President Dr Bharrat Jagdeo to India, along with a business delegation, further strengthened the idea of setting up a body that would work towards nurturing a mutually beneficial partnership.
IGCC will serve as a platform for the businesspeople in Guyana and India to connect, network, and operate. With a goal to open up diverse trade, investment, and joint venture opportunities in the energy, technology and agriculture sectors, the chamber will support members with resources and through trade forums and business visits to scale new heights in the investment market.
An IGCC representative said the organization is committed to advancing the economic growth of both India and Guyana, and has invited businesses, irrespective of size, to join the network and take advantage of the benefits.
IGCC will work closely with governments, business organizations, and industry experts to identify new business opportunities to overcome challenges that hinder the growth of trade and investment between the two countries.