More needs to be done to boost Guyana-India trade – High Commissioner

– wants to see more Guyanese businesses taking up marketing opportunities in India

Even as trade between Guyana and India is gaining momentum, Indian High Commissioner to Guyana Dr Amit Telang believes more needs to be done to increase bilateral trade between the longstanding bilateral partners.
During a recent interview with the Guyana Times, High Commissioner Telang noted that while traditional exports between India and Guyana have been increasing, there is room for a further increase in trade relations between the two nations.
“Steadily, there is an increase… There are opportunities [outside] some of the areas which are traditional. Commodities were exported like timber [and] some of the other raw material. These things are traditionally on the export from Guyana to India. And we, again, see that it’s picking up momentum. But a lot needs to be done,” he contended.

According to the Indian diplomat, Guyanese companies need to be more proactive in seeking out market opportunities in India.
“What I would like to see, as the High Commissioner also, I won’t say that it’s not happening – it’s very much happening, but the fact of the matter is, more and more Guyanese businesses also will have to travel to India and participate in trade fairs and all such business events.”
“We recently had, a few months back, the India-Latin America business meet. Then we had extended an invitation to Guyanese companies for major trade expos in India. Some of them did participate as well. So, as I said, probably a little bit of more active involvement of Guyanese businesses in terms of visiting India, looking at what are the commodities that are required in India will make it more fruitful,” the High Commissioner suggested.
Back in January of this year, Foreign Affairs and International Cooperation Minister Hugh Todd had disclosed in the National Assembly that exports to non-traditional markets have increased substantially, with the UAE, Singapore and India now ranked among Guyana’s top export destinations.
According to High Commissioner Telang, that high trade figure could have been as a result of a large crude shipment from Guyana to India. Based on local reports, India sourced as much as US$149 million in crude oil from Guyana between 2021 and 2022.
Meanwhile, just last week, it was reported that two Indian refiners have bought a total of 4 million barrels of Guyana’s crude from US oil major, Exxon Mobil, to be delivered at the end of this year or early 2026.
Dr Telang, however, is confident that there more opportunities to enhance trade between the two countries that are yet to be explored.
In fact, Indian is preparing to send a business delegation to Guyana next month to explore opportunities here. That visit will coincide with the hosting of GuyExpo 2025. Set for November 13 to 16, GuyExpo is Guyana’s premier trade and investment showcase that highlights local and regional products, bringing together innovations, entrepreneurship and culture.
“Based on what we are looking at in terms of what GuyExpo has to offer, which are the different areas that are part of GuyExpo, different sectors, and wherever we find that there is complementarity existing, we’ll certainly include those companies [from India to be a part of the visiting delegation,” the Indian diplomat noted.
Based on information from the Indian High Commission’s office in Georgetown, total trade between Guyana and India in 2021-2022 amounted to US$ 223.36 million, a tremendous increase from US$ 46.97 million in 2020-21.
During 2022-2023, the trade dipped to US$ 66.37 million, which is the generally an average figure for some years. This, however, has increased in 2023-24 to US$ 105.97 million with exports of US$ 99.36 million and imports of US$ 6.61 million.
Among the major items of exports from India to Guyana are: Pharmaceutical products; Iron & Steel; Boilers, Machinery & Mechanical Appliances parts thereof; Electrical Machinery & Equipment and parts thereof; Sound Recorders & Reproducers, Television Image and Sound Recorders & Reproducers and parts; Apparel and Clothing Accessories not knitted crocheted; Apparel and Clothing Accessories knitted crocheted; Articles of Iron & Steel; Vehicles other than railway or tramway rolling stock, parts and accessories thereof; Coffee, Tea,, Mate & Spices; Rubber and other articles thereof.
Meanwhile, the major items of imports by India from Guyana are: Wood and Articles of Wood; Wood Charcoal; Ores, Slag & Ash; Electrical Machinery & Equipment and parts thereof; Sound Recorders & Reproducers, Television Image and Sound Recorders & Reproducers and parts; Iron & Steel; Lead & Articles thereof; Aluminium and other articles thereof.
Back in February 2023, Indian President Shrimati Droupadi Murmu had called for diversified bilateral trade with Guyana during a meeting with Vice President Dr Bharrat Jagdeo in New Delhi.
The following month, the India-Guyana Chamber of Commerce (IGCC) was established in April 2023, thus paving the way for the facilitation of trade, investment, and cultural exchanges between the two countries.