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India SVG relations

India SVG relations

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  • 1. India - St. Vincent & theGrenadines Economic Relations
  • 2. 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
  • 3. 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 $288 million (2011 est.) Foreign Direct Investment Figures not available
  • 4. Total Global Trade (Latest available figures)Merchandise exports :$ 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.
  • 5. 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.
  • 6. 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
  • 7. 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
  • 8. 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).
  • 9. 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
  • 10. 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.
  • 11. 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.

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