In a recent BBC interview, Guyana’s President Irfaan Ali emphasised the nation’s commitment to environmental preservation, particularly its significant carbon storage within the nation’s forests, totalling 19.5 gigatons. This stance not only underscores Guyana’s role in global climate change mitigation but also rebuffs any perceived condescension from developed nations regarding climate change policies. President Ali has been congratulated for his firm stance, which challenges the Western world’s responsibility for polluting Earth since the first industrial revolution.
Guyana is experiencing an energy boom, a significant development following the discovery of 11 billion barrels of oil-equivalent resources off its coastline. This newfound wealth promises prosperity for a nation that has long struggled with poverty, with over 30% of its population living below the poverty line. Since the start of commercial drilling in 2019, Guyana has seen rapid economic growth, positioning itself as one of the world’s fastest-growing economies. It has also managed to eradicate poverty drastically.
Guyana is at a critical point in its economic journey, with the potential to soon become one of the largest per-capita oil producers. While the promise of newfound wealth is undeniable, President Dr Ali’s affirmation of Guyana’s environmental stewardship brings to the forefront the intricate balance between economic development and ecological sustainability on the global stage.
India shares a deep historical and cultural bond with Guyana. Many of Guyana’s population have Indian origins and ancestors from India who were brought in as contract workers for the country’s sugar, rice, and agriculture sectors. This recruitment effort, led by the British in India, has left a legacy, forming a solid bond between the two nations.
The shared heritage, which includes a significant Indian population and the presence of Hinduism as the nation’s second-largest religion, reflects the cultural influence of its Indian heritage and also provides a solid foundation for further cooperation and support between India and Guyana. Islam is the third largest faith amongst Indian Muslims in Guyana. The current President of Guyana is of the Islamic faith.
Today, Guyana is a multicultural nation, with Hindus, Muslims, Indian Christians, Amerindians, Portuguese, and Chinese making up most of the population. The second largest group is Afro-Guyanese, who are predominantly Christian. A small minority of Afro-Guyanese converted to Islam are participating in Guyana’s economic development. All these communities work together for the betterment of Guyana.
Against the backdrop of Guyana’s newfound oil and gas wealth, President Dr. Ali has signalled a strong stance against perceived Western dominance over the nation’s resources.
As a global leader, Prime Minister Narendra Modi seeks to strengthen ties with countries boasting significant Indian expatriate populations. While major Western corporations like ExxonMobil, Halliburton, SBM, Noble, and others dominate much of the exploration and extraction in Guyana, India is making strides to engage more actively.
In January 2024, India and Guyana inked a five-year memorandum of understanding, paving the way for Indian companies such as ONGC Videsh to participate in various aspects of the oil industry, including exploration, production, and refining.
India’s involvement in Guyana extends beyond the energy sector, as evidenced by recent developments such as Hindustan Aeronautics Ltd.’s delivery of two Dornier Do-228 aircraft to the Guyana Defence Forces. This initiative, part of a ‘line-of-credit’ agreement, underscores India’s commitment to fostering deeper bilateral ties beyond mere economic interests.
Furthermore, Ashoka Buildcon, an Indian conglomerate, is building the Ogle/Eccles motorway in Guyana.
As India seeks to satisfy its growing energy demands, it is imperative that it reciprocates by assisting Guyana in enhancing its healthcare, education, transportation, infrastructure, and military capabilities.
By leveraging their shared cultural and historical connections, Georgetown and New Delhi have the opportunity to evolve into true partners in progress, strengthening their relationship for mutual benefit and prosperity. Profound cultural and historical relations exist. It is time to build hereon.