India-Guyana Relations

India-Guyana Relations
 

News: In the coming days, Guyana and India will sign a Memorandum of Understanding (MoU) to boost economic ties and cooperation between both nations.
 

Why Guyana is important?
 Guyana’s population is mere 8,00,000 of whom 40% are of Indian descent.
 India’s energy security can be assured by Guyana’s large oil reserves. By the end of the decade, Guyana will be producing more than one million barrels of oil per day, making it a significant supplier to India.
 Guyana is looking to India for assistance to develop its oil sector. The Latin American nation is hoping for Indian investment in the region.
 Guyana is working on modernising its military and is looking to India for defense assistance to aid in this effort. Specifically, it is looking to purchase fast patrol boats to protect its maritime resources through its Coast Guard.
 Additionally, Guyana is considering India’s Dornier aircraft in order to improve domestic connectivity.
 Indian-origin politicians such as President Irfaan Ali and Vice President Bharrat Jagdeo are pushing for closer relations with India.
 

What should we learn from Prelims perspective?
 Located between Venezuela, Brazil, and Suriname, Guyana is often overshadowed by its more powerful neighbours.
 It is bordered by Atlantic Ocean to the North.
 Guyana is the only South American nation in which English is the official language. However, the majority of the population speak Guyanese Creole, an English-based creole language, as a first language.
 Capital – Georgetown
 Currency – Guyanese Dollar