2nd India-CARICOM Summit

November 22, 2024

Prime Minister Narendra Modi’s visit to Guyana on November 20, 2024, marked a moment in diplomatic relations. This visit was the first by an Indian head of state in over 50 years. Modi attended the second India-CARICOM Summit, focusing on enhancing ties between India and Caribbean nations.

Key Proposals at the Summit

Modi proposed seven initiatives to strengthen cooperation, which centered on trade, technology, tourism, agriculture, food security, health, and innovation. These areas are vital for mutual growth and development.

Online Portal for Connectivity

He suggested creating an online portal, which would connect private sectors and stakeholders across nations. The aim is to promote the “five Ts” – trade, technology, tourism, talent, and tradition.

Modi brought into light India’s achievements in the small and medium enterprises (SME) sector. He stressed the importance of implementing the $1 million grant for SME development in the CARICOM region, announced the previous year.

Previous Engagements with CARICOM

In 2019, India and CARICOM leaders discussed renewable energy and climate change. This was during the United Nations General Assembly session. India supported these discussions with a $150 million credit line.

Acknowledgment of India’s Support

During the summit, Guyana’s President Irfaan Ali expressed gratitude. He thanked Modi and India for assistance during the COVID-19 pandemic, especially the delivery of vaccines.

Guyana has Indian-origin population, approximately 320,000 people. Modi’s visit reinforced India’s connection with this community.

Recent Diplomatic Engagements

Before Guyana, Modi participated in the G-20 Summit in Brazil. He met global leaders, including U.S. President Joe Biden and U.K. Prime Minister Keir Starmer. His diplomatic efforts included discussions with Nigeria’s President Bola Ahmed Tinubu.

Important Facts for Exams:
CARICOM – The Caribbean Community (CARICOM) was established in 1973. It promotes economic integration and cooperation among Caribbean states. It includes 15 member countries, facilitating regional trade and policy alignment.
SME Sector – The Small and Medium Enterprises (SME) sector is crucial for economic growth. It contributes to job creation and innovation. India’s support aims to enhance SME development in the Caribbean.
Five Ts – The “five Ts” refer to trade, technology, tourism, talent, and tradition. This concept aims to enhance cooperation between nations. It focuses on holistic development and mutual benefits.

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