Any nation’s economy is comprised of various sectors, each of which plays a vital role in its overall functioning. These sectors can broadly be classified into primary, secondary, and tertiary levels, which includes Agriculture, Forestry, Mining at the primary level, Manufacturing, Construction and Energy Production at the secondary level and Finance, Transportation, Healthcare, Education, Tourism, and hospitality at the tertiary level.
At the India-Guyana Chamber of Commerce (IGCC) we aim to facilitate and promote the growth of these diverse sectors of the economy.
International Relations
The India Guyana Chamber of Commerce is at the forefront of the business community’s efforts to influence global policy. With its unique access to key decision-makers, IGCC advocates for policies that support economic growth and provide businesses with access to new markets beyond their borders. IGCC is actively working towards expanding access for businesses in this regard and is planning to make significant strides in this area. They are committed to connecting businesses with policymakers and other stakeholders to facilitate communication and collaboration, which will lead to positive changes in the global economy. The Chamber’s efforts to shape global policy will help businesses worldwide thrive and grow.
Agriculture
The India Guyana Chamber of Commerce has formed a comprehensive platform to foster growth and development in the Agro and food processing industry, which has become increasingly crucial in the country. As a commerce association representing all facets of the agriculture and food sector, the Forum is uniquely positioned to advocate for the objectives of various industry stakeholders, including growers, processors, cold storage/cold chain, retailers, food service operators, distributors, and suppliers.
To advance the food processing industries, the Forum’s members work closely with both India, Huyana and state governments to create policy frameworks. IGCC’S decisions prioritize socioeconomic goals, training requirements, modernization, technological advancements, quality improvement, efficiency, job creation, exports, and other factors.
Oil & Gas Sector
Indian Guyana Chambers of Commerce recognizes the enormous potential of the Oil and Gas industry in both nations. With the discovery of over 9 billion barrels of Oil reserves in Guyana’s offshore Stabroek block in 2015, the country has emerged as a major new Oil producer. Meanwhile, India remains one of the world’s largest Oil consumers and importers. As of 2022, India’s daily Oil consumption is approximately 5 million barrels per day, which accounts for around 5% of the world’s total Oil consumption. With such a significant market share, India offers immense opportunities for Guyana’s growing Oil industry. IGCC aims to facilitate this partnership by providing crucial business support services, financing options, and regulatory guidance to enable businesses to unlock the maximum benefits of the Oil and Gas industry. This will not only create new business opportunities but also contribute to the economic growth and development of both India and Guyana.
Skill Development
The Indian Guyana Chambers of Commerce (IGCC) will play a crucial role in promoting skill development in India and Guyana. Skill development is critical for sustainable economic growth and job creation. IGCC will work closely with government agencies, industry associations, and educational institutions to design and implement skill development programs aligned with industry requirements. IGCC will offer training workshops, seminars, and certifications to equip workers with the necessary skills and knowledge to excel in their respective fields. The Indian Guyana Chambers of Commerce will also provide networking opportunities to connect job seekers with potential employers in Guyana and in India. By enhancing the skills and capabilities of workers, the IGCC’s efforts in skill development will contribute to the creation of a more competitive and productive workforce and promote economic growth in both countries.
Start Ups
The Indian Guyana Chambers of Commerce is committed to igniting the spark of entrepreneurship and supporting startups in both India and Guyana. Startups have the potential to transform the business landscape by introducing innovative solutions and generating new job opportunities. We at IGCC aim to foster entrepreneurship by providing startups with the necessary support and facilities to help them succeed. From mentorship and seed funding to co-working spaces and incubation centers, IGCC will provide a range of resources to help startups grow and scale their businesses. By promoting a supportive ecosystem, IGCC’s efforts will stimulate economic growth and create a more vibrant and dynamic business environment in both India and in Guyana.
Department of Economic Affairs & Policy
IGCC will play a pivotal role in the Department of Economic Affairs & Policy in both India and Guyana. The Chamber will provide valuable insights and recommendations to help the government of both the countries to formulate policies that promote economic growth and sustainability. The IGCC will collaborate with various stakeholders, including government agencies, industry associations, and educational institutions, to identify key challenges and opportunities and develop strategies to address them. Also, the Chamber will provide research and analysis to help inform policy decisions and ensure they align with the business community’s needs. The IGCC’s contributions to the Department of Economic Affairs & Policy will facilitate a more conducive business environment and stimulate economic growth in both countries.
Minerals & Metals
Minerals and Metal mining plays a key role in both India and Guyana’s economy. IGCC will support this industry by collaborating with mining companies, industry associations, and government agencies to identify key challenges and opportunities and develop strategies to address them. According to the Indian Bureau of Mines, India produced approximately 95 minerals, including metallic, non-metallic, and fuel minerals in 2022. Additionally, the value of minerals and ores exports from India in 2021-22 was approximately 43.5 billion U.S. dollars. In Guyana, the mining industry is a significant contributor to the country’s economy, with gold being the primary mineral produced. According to data’s, gold production in Guyana reached a record high and Guyana exported $534M in 2021. Additionally, the mining sector accounted for approximately 17.5% of Guyana’s Gross Domestic Product in 2021. The IGCC’s efforts will facilitate the growth and development of the minerals and metal mining industry, create new job opportunities, and stimulate economic growth in both countries.