Trade, investment and energy between India and Guyana

This article sets out trade between India and Guyana, India's purchases of Guyanese crude oil, cooperation on renewable energy and the business meetings the two countries have held. It uses the Ministry of External Affairs (MEA) bilateral brief of June 2026 as its source. Figures are as the brief gives them, in US$ million unless stated otherwise, and refer to Indian financial years.

Trade figures

According to the MEA brief of June 2026, total India-Guyana trade in 2021-22 amounted to US$ 223.36 million, with exports of US$ 66.41 million and imports of US$ 156.96 million. The brief compares this with US$ 46.97 million in 2020-21. It describes trade as having dipped in 2022-23 and picked up in 2023-24.

The brief's table gives the following figures:

2021-22: India's exports 66.41, India's imports 156.96, total trade 223.36
2022-23: India's exports 62.15, India's imports 4.22, total trade 66.37
2023-24: India's exports 99.36, India's imports 6.61, total trade 105.97
2024-25: India's exports 92.59, India's imports 4.34, total trade 96.93
2025-26 (April 25 to January 26): India's exports 102.56, India's imports 139.4, total trade 242.06

For 2024-25, the brief states that there is a decrease of 12%, but that trade is above the average bilateral trade of US$ 65 million.

Reading the figures

The totals for 2021-22 and 2025-26 carry a note in the brief: "Oil purchase by India". The 2025-26 figures cover April 2025 to January 2026 only, not a full financial year.

Crude oil purchases

Indian Oil Corporation Ltd (IOCL), in its first purchase, bought one million barrels of Liza crude oil from the Government of Guyana's share of oil. Earlier, a consortium of HPCL-Mittal Energy had purchased 1 million barrels in March 2021.

A broad-based bilateral MoU for Cooperation in the Hydrocarbons sector was signed during the Prime Minister's visit to Guyana in November 2024.

The brief records that the second crude shipments from Guyana to India since 2021 took place in November 2025. The 4-million-barrel purchase was made from the US major ExxonMobil Inc., which the brief says leads the consortium driving Guyana's offshore production. Indian Oil Corp. (IOC) and Hindustan Petroleum Corp. (HPCL) each bought 2 million barrels.

Minister of Natural Resources Vickram Bharrat visited India for the Global South Energy Ministerial Roundtable on 7 February 2024, held during India Energy Week in Goa.

Renewable energy and biofuels

An MoU on Cooperation in New and Renewable Energy was signed on January 31, 2018, during the visit of Second Vice President and Foreign Minister Carl B Greenidge, who was accompanied by Natural Resources Minister Raphael Trotman. Guyana signed and ratified the Framework Agreement on the International Solar Alliance on January 30, 2018.

Then President David Granger attended the Founding Conference of the International Solar Alliance in New Delhi in March 2018. In October 2018, Ms. Annette Ferguson, Minister within the Ministry of Public Infrastructure, attended the First General Assembly of the ISA and the 2nd Renewable Energy Global Investors' Meet & Expo (2nd RE-INVEST) in New Delhi.

Prime Minister Brig (Ret'd) Mark Phillips visited India from 04-07 March 2025 for the World Sustainable Development Summit. The brief records that he met the Minister for New & Renewable Energy and Environment, Forest & Climate Change, the Director General of ISA, CDRI and the CMD of RailTel. Guyana joined the Global Biofuel Alliance as an initiating Founding Member in July 2023.

Business meetings

During EAM Dr. S. Jaishankar's official visit to Guyana in April 2023, he took part in the first ever India-Guyana Business Roundtable.

Minister of Health Dr. Frank Anthony, National Security Advisor Captain Gerry Gouveia and Dr. Peter Ramsaroop, CEO of the Guyana Office for Investment, visited India with a large business delegation for the 9th edition of the India-LAC Conclave, held in New Delhi on 3-4 August 2023.

Several of the Joint Working Groups under the Joint Commission cover economic sectors, including agriculture, health and pharma, infrastructure development and energy.

Since the brief of June 2026

Later developments in India and Guyana relations, from MEA publications, newest first. The article above reports the brief at its date.

Questions and answers

What is the value of India-Guyana trade?

According to the MEA brief of June 2026, total trade was US$ 96.93 million in 2024-25. For 2025-26 (April 25 to January 26), the brief gives total trade of US$ 242.06 million, marked as including oil purchase by India.

Does India buy oil from Guyana?

Yes. IOCL bought one million barrels of Liza crude from the Government of Guyana's share, and IOC and HPCL each took 2 million barrels in a purchase from ExxonMobil, with the shipments arriving in November 2025.

Is Guyana a member of the International Solar Alliance?

Yes. Guyana signed and ratified the Framework Agreement on the International Solar Alliance on January 30, 2018, and an India-Guyana MoU on New and Renewable Energy was signed on January 31, 2018.

Sources

This article reports what the sources state at their date and does not add facts from elsewhere. Figures, office holders and agreements may have changed since. Diplo is independent and not affiliated with any government. Suggest a correction.