Indian PM Narendra Modi’s visit this week to our country offers opportunities for our leaders to not only strengthen the historic linkages forged between 1838 and 1917 with 239,000 immigrants arriving from there, but to also explore the possibilities opening up in a newly evolving multipolar world order where India is playing a major role. Take BRICS – the emerging economies of Brazil, Russia, India, China and South Africa – which was a cornerstone of that order. This was supposed to provide an alternative paradigm of development to the rest of the world compared to the post-WWII Western hegemonic “rules-based” order, where the rules were promulgated and interpreted based on the interests of the West.
BRICS became BRICS+ with the addition of Iran, Egypt, Ethiopia and the United Arab Emirates, and last month added 13 “partner countries”. This grouping far surpasses any other bloc by any number of criteria – population, economic heft, geographical spread etc. It is of interest to us that Venezuela, which has attempted to bully us over the border controversy they created to annex two-thirds of our national territory, applied to BRICS+ at its meeting last month but was blocked by Brazil. The latter BRICS+ member cited the July elections, when Maduro claimed victory but refused to show his copies of the electronic voting tallies to counter the Opposition’s tallies, which showed them winning. We must lobby India to support the Brazilian stance, since much of their goodwill is based on its maintenance of a democratic polity – unlike Russia and China, which support Venezuela. We suggest that at Mr Modi’s meeting with our Parliament, a bipartisan motion be moved to exhort India to adopt this stance.
On the domestic front, India is uniquely poised to assist in our strategic decision to select “food production” to sustain our economic growth after our oil boom. India now has the largest population in the world – 1.5 billion people – and even without its groundwater becoming depleted to put its own agricultural base at risk – its decision to focus on manufacturing will further diminish its own food production as farmers become factory workers. We have ample land, but our need to scale up production demands enormous increases in all inputs, including farmers. Decades ago, Japan utilized savannahs in the neighbouring Brazilian state of Roraima to create mega-farms producing soya and other staples to feed its populace. Brazil was left with the wherewithal to maintain its dominance in food production. We should lobby Mr Modi so that we do no less.
One former Chairman of GuySuCo and CEO of Demerara Bank, Mr Dave, offered a very detailed suggestion on how India might be able to resuscitate our beleaguered sugar industry. “India stands as the world’s largest sugar producer, with an impressive annual output of 36 to 37 million tonnes. In contrast, GuySuCo, Guyana’s own sugar corporation, currently faces various financial, technical, managerial, and operational challenges. Even with the subvention of GY$15B in 2023, GuySuCo has reported a loss of GY$4.7B.
With India’s advancements in sugar production technology and its effective utilization of byproducts, the country offers a valuable model for reviving GuySuCo’s operations. Notably, Indian companies such as Bannari Amman, KCP Sugar and EID Parry serve as benchmarks in developing innovative sugar production methods, including ethanol production, power generation from bagasse, and crafting sustainable products like paper. India also has companies like Triveni Engineering and Walchand Nagar Industries Ltd having more than 75 years of experience in addressing and solving mechanical engineering problems of sugar factories. These two companies can provide immense technical support to GuySuCo.
Guyana could explore a line of credit from India specifically aimed at the rehabilitation of GuySuCo. This support could cover technical, financial, and managerial aspects, enabling Guyana to implement effective solutions and regain competitiveness in the sugar industry. A delegation of Indian experts in sugar technology, finance, and management could conduct a comprehensive diagnostic study of GuySuCo, culminating in a robust rehabilitation plan tailored to Guyana’s needs. With India’s guidance and expertise, GuySuCo has the potential to become a thriving enterprise once again.
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