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India Barbados

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  1. 1. India BarbadosEconomic Relations
  2. 2. Facts at a GlanceOfficial Name BarbadosType of Government Parliamentary DemocracyHead of State Her Majesty Queen Elizabeth II HM’s Representative: Governor General The Hon’ble Sir Clifford Straughn Husbands, GCMG, KAHead of Government Prime Minister Mr. Fruendel STUARTMinister of Foreign Senator The Hon. Maxine McCleanAffairs and ForeignTrade
  3. 3. Facts at a GlanceArea 431 sq kmPopulation 287,733 (July 2011 est.)GDP $4.4 billion (2011 est.)(At official Exchange Rate)GDP (Real Growth Rate) 1.8% (2011 est.)GDP (PPP) $6.528 billion (2011 est.)GDP [Per Capita (PPP)] $23,600 (2011 est.)Inflation Rate 9.1% ( 2011 est.)Exchange rate Bd$ 2 = US$1(2008)External Debt $1,123.5 million (2009 est.)Major Industries: Tourism, Sugar, light manufacturing, component assembly for export.
  4. 4. Total Global Trade (Latest available figures)Marchandise exports: $467.4 million (2011 est.)[f.o.b. (million US$)]Marchandise imports:$1,601 million (2011 est.)[c.i.f. (million US$)]
  5. 5. India Barbados Trade Year 2007-08 2008-09 2009-10 2010-11 EXPORT 2.52 0.82 0.36 0.41 IMPORT 0.03 7.02 1.04 0.00 TOTAL 2.55 7.84 1.40 0.41 TRADE% GROWTH -8.72 -78.71 -82.19 -70.39 All figures in US$ million
  6. 6. Composition of India Barbados Bilateral Trade Exports from India : Garments, spices, Basmati Rice, other consumer items, Pharmaceuticals. Imports into India : Negligible
  7. 7. Potential growth areas for India’s exports •Textiles, •furnishing fabrics, •hotel supplies, •solar energy power panels, •plastic items, •medical supplies.
  8. 8. Potential areas for Project Exports from India Hospitality industry - hotel supplies like bed sheets, terry towels, curtains etc. Management of hotels by Indian hotel chains. ICT Sector – Indian BPO companies can have a base in Barbados Financial Sector - Offshore Financial Services Computer education Pharmaceuticals Food Processing, molasses, alcohol, sugar technology, spices and condiments. Non-conventional Sources of Energy - Solar & Wind Power, Bagasse based Power Plants. Construction Sector - Indian architects and construction firms can tap the construction boom
  9. 9. Major Export Promotion & Trade organizationsThe Barbados Chamber of Commerce and Industry1st Floor Nemwil House,Collymore Rock,St,. Michael,Barbados, WI,Website : http//www.bdscham.comTel. : (246) 426 2056/0747 or (246) 228-4205Fax : (246) 429-2907E-mail : bdscham@caribsurf.comExecutive Director, Ruall Harris
  10. 10. Indian DiasporaAbout 150 Sindhi families (total 600) and 3,000 Gujarati Muslims from Surat. Over 150 other professionals including doctors, engineers, software experts, hotel employees, nurses, technicians etc.Sindhis and Gujarati businessmen control a substantial part of trading in Barbados. They also own a large number of commercial properties.PIOs from UK and Trinidad also own properties and hotels.
  11. 11. Honorary Consulate of IndiaDr. PHILOMENA MOHINI-HARRIS,Honorary Consulate of IndiaLot 4Warrens Healthcare CentreWarrensSt.MichaelTel. No. (246) 2710905e-mail: hcindiabds@caribsurf.comOpen- Monday, Wednesday, FridayTime: 9:00 AM to 12 Noon