On November 24, 2024, Indian Prime Minister Narendra Modi made a historic visit to Georgetown, Guyana, marking the first visit by an Indian Prime Minister in 56 years. This visit is particularly significant given that over 40% of Guyana's population is of Indian origin, descendants of indentured laborers brought to the country 186 years ago. Upon arrival, Modi was warmly welcomed by President Mohammed Irfaan Ali and Prime Minister Mark Anthony Philips, and he was honored with the key to the city of Georgetown [d9014c45].
Guyana's economy has seen a remarkable surge, with a staggering 62.3% GDP growth in 2022, primarily driven by significant oil discoveries by ExxonMobil since 2015. The country boasts 11 billion barrels of proven offshore petroleum reserves, positioning it as a burgeoning player in the global oil market [d9014c45]. However, this economic boom comes amid increasing territorial claims by Venezuela over the Essequibo region, raising concerns about regional stability [d9014c45].
During his visit, Modi and the Guyanese government signed ten Memoranda of Understanding (MoUs) covering various sectors, including hydrocarbons and agriculture. Modi emphasized the importance of cooperation and cultural ties between India and Guyana, addressing the Indian community and receiving the 'Order of Excellence' for his contributions to strengthening bilateral relations [d9014c45].
Modi also co-chaired the 2nd India-CARICOM Summit with Prime Minister Dicken Mitchell, where India proposed initiatives aimed at enhancing cooperation in health, education, drug trafficking, and maritime security. This summit further solidified India's commitment to fostering strong ties with Caribbean nations [d9014c45].
The visit underscores the shared history and future aspirations of India and Guyana, as both nations look to leverage their cultural connections and economic potential in the face of global challenges. Guyana's strategic position and resources, coupled with India's growing influence in the region, present a unique opportunity for collaboration and mutual growth [d9014c45].