Enhancing India CARIFORUM Economic Relations and Prospects for Cooperation

Indian Investments in CARIFORUM India’s investments in the CARIFORUM countries during the period April 1996 to March 2021 stood at US$ 279 million, which is a little less than one percent of India’s total outwards foreign investments. Cumulative investments during April 1996 to March 2011 stood at US$ 28.3 million. Post 2011, investments peaked during financial year 2012-13 at US$ 55 million. Indian investments have remained on the lower side only, barring a couple of years viz 2014-15 when investments amounted to US$ 39.1 million and 2018-19 when investments amounted to US$ 43.1 million (Figure D) .

Figure D: India’s OFDI to the CARIFORUM Countries (US$ million)

Source: Reserve Bank of India database on monthly OFDI from India and India Exim Bank Analysis

Investment Opportunities in the Caribbean The CARICOM Secretariat’s 2015-2019 Strategic Plan highlights the priority sectors for investment in the Caribbean. Many of the sectors identified in the Secretariat´s Strategy also form a part of the priority sectors identified by 23 member countries of the Caribbean Association of Investment Promotion Agencies (CAIPA) in their 2016 Regional Investment Promotion Strategy. Following are the priority sectors:

• Creative Industries • Service Industries • Manufacturing • Resort and Hotel Development • Agriculture

Executive Summary

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