In a meeting today at Rashtrapati Bhavan, the official residence of President of India, Droupadi Murmu, an agreement was had with Guyana for collaboration in various sectors. This includes ayurveda, bio-fuels, and agriculture, particularly focusing on millet production.
The President was at the time warmly welcoming Prime Minister, Brigadier (ret’d), Mark Phillips and his delegation from Guyana, while expressing the need to diversify bilateral trade. President Murmu underscored the historical ties between the two nations, rooted in their shared colonial past, diverse societies, and significant Indian Diaspora in Guyana for almost two centuries.
Highlighting the importance of cooperation in ayurveda, bio-fuels, and agriculture, President Murmu stressed that addressing climate change and food insecurity requires joint efforts. On that note, she congratulated Guyana on assuming the rotating Chairmanship of CARICOM and the current Presidency of the United Nations Security Council, emphasizing both countries’ commitment to reformed multilateralism as leading members of the Global South.
India’s government recently approved the signing of a Memorandum of Understanding (MoU) with Guyana for joint ventures in the hydrocarbon sector. The comprehensive MoU encompasses the entire value chain of the hydrocarbon sector, including sourcing crude oil, exploration and production, refining, capacity building, and collaboration in natural gas and clean energy sectors.
Expected to run for five years, the MoU holds promise for India’s energy security and economic diversification. Given Guyana’s emergence as a major player in the oil and gas industry, with proven reserves exceeding 11 billion barrels, it clearly positions the nation as a key partner for India’s energy needs.
