India - St. Vincent & theGrenadines Economic Relations
Facts at a GlanceOfficial Name St. Vincent and the GrenadinesType of Government Parliamentary DemocracyHead of State Her Majesty Queen Elizabeth II HM’s Representative: Governor General Sir Frederick Nathaniel BallantyneHead of Government Prime Minister Dr. Ralph E. GonsalvesMinister of Foreign Hon. Sen. Dr. Douglas SlaterAffairs, Foreign Tradeand Consumer Affairs
Facts at a Glance Area 389 sq km Population 103,537 (July 2011 est.) GDP (At official Exchange Rate) $700 million (2011 est.) GDP (Real Growth Rate) 0.4% (2011 est.) GDP (PPP) $1.224 billion (2011 est.) GDP [Per Capita (PPP)] $11,700 (2011 est.) Inflation Rate 3.7 % (2011 est.) Exchange rate East Caribbean dollars (XCD) per US dollar - 2.7 (2007) External Debt $288 million (2011 est.) Foreign Direct Investment Figures not available
Total Global Trade (Latest available figures)Merchandise exports :$ 64.4 million (2011) f.o.b. (million US$)Merchandise imports :$ 348 million (2011)c.i.f. (million US$)Relations with TaiwanSt. Vincent depends heavily on Taiwan for itsdevelopment needs.
India-SVG Bilateral Relations India donated medicines worth US $ 50,000 in early 2006. India has agreed to set up a ICT centre in SVG In 2011, India has donated US$ 100,000/- to the Government of St. Vincent and the Grenadines in assistance in the wake of damage caused by the double-barreled assaults of October 2010’s Hurricane Tomas and the April 2011 flash floods and landslides.
India - St. Vincent & the Grenadines Bilateral Trade Year 2007-08 2008-09 2009-10 2010-11 EXPORT 0.47 0.82 0.36 0.41 IMPORT 36.37 7.02 1.04 0.00 TOTAL 36.84 7.84 1.40 0.41 TRADE% GROWTH 1267.82 -78.71 -82.19 -70.39 All figures in US$ million
Composition of Trade Major items of Export:Items 2008-2009 2009-2010 % GrowthArticles of apparel 0.02 0.07 271.43Pharmaceuticals 0.07 0.05 - 28.99Machinery 0.05 0.04 - 25.93 Major items of Import: Items 2008-2009 2009-2010 % GrowthSHIPS, BOATS 7.02 1.03 -85.30AND FLOATINGSTRUCTURES All Values in US$ Millions
Potential Areas for India’s Investments & Joint Ventures Hospitality Industry - hotel supplies Management of hotels Pharmaceuticals and medical equipment. Food processing, molasses, alcohol Solar & Wind Power St. Vincent wants to set up a Hotel Management Institute with India’s help (in Private Sector).
Major Export Promotion & Trade organizations St Vincent & the Grenadines Chamber of Commerce ADDRESS: P.O BOX 134 3RD FLOOR COREAS BUILDING HALIFAX & HILLSBOROUGH STREET KINGSTOWN ST.VINCENT AND THE GRENADINES TEL: 1-784-457-1464 FAX: 1-784-456-2944 E-MAIL: SVGCHAMBER@SVG-CIC.ORG OPENING HOURS: MONDAY TO FRIDAY: 8AM TO 4PM SATURDAY & SUNDAY: CLOSED
Indian Diaspora Indian Doctors are well established. Some other professionals like Engineers, Computer Experts are also working. Two Sindhi businesses. About 3,000 persons of Indian descent live in St. Vincent. The number was over 10,000 in the 1950s but most have migrated to UK, USA, Canada etc. Through inter-marriages, it is estimated that about 15% population of St. Vincent has Indian connection.
SVG Indian Heritage Foundation St. Vincent & the Grenadines Indian Heritage Foundation was established in October, 2006. They want to revive links with India. They also have an active website. We can use their goodwill for bilateral relations. SVG Govt. also appreciates the Foundation’s efforts.