Guyana, India sign agreements to advance digital transformation, enterprise development

President Dr Mohamed Irfaan Ali and India’s Minister of External Affairs, Dr Subrahmanyam Jaishankar, have formalised three bilateral agreements to advance Guyana’s digital infrastructure, expand opportunities for small and micro enterprises, and support community-driven development.

The agreements were signed on Wednesday during a bilateral engagement on the sidelines of the 28th Commonwealth Heads of Government Meeting (CHOGM) in Antigua and Barbuda.

The agreements comprise a memorandum of understanding (MoU) on Indian Grant Assistance for the Implementation of Quick Impact Projects (QIPs); an MoU on the Supply and Installation of Micro and Small Enterprises (MSEs) Manufacturing Projects; and an agreement on Cooperation in Digital Public Infrastructure and the Functioning of a Unified Payments Interface (UPI)-like system in Guyana.

A major component of the partnership is developing a modern national payment system, expected to improve the efficiency of financial transactions, lower the cost of doing business, enhance financial security, and increase transparency.

President Ali announced that the system is expected to be launched by the end of 2026, with India providing technical expertise to support its implementation.

More than 20 Guyanese are also expected to benefit from practical training in India’s UPI environment.

“Through this agreement, we will unleash the power of innovation and create that synergy and partnership between our own innovators in Guyana and your innovators, especially in new technology, new systems and accelerating development,” President Ali said.

The Quick Impact Projects agreement will provide a framework for grant-supported initiatives targeting community development priorities, while the MSE agreement will facilitate manufacturing projects that support entrepreneurship, technical capacity and local employment generation.

The head of state also acknowledged India’s contribution to human capital development, technology transfer and the expansion of essential services, noting that the agreements reflect considerable work by both governments to translate bilateral cooperation into practical outcomes.

“These are delivering on the commitment that Prime Minister Modi made when he had come to Guyana when we had this meeting with CARICOM,” Dr Jaishankar stated.

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