Why in news
Prime Minister Narendra Modi proposed seven key pillars to strengthen ties between India and the Caribbean Community (CARICOM) during his visit to Guyana.
These pillars focus on areas such as trade, technology, tourism, economic cooperation, agriculture, health, and science.
Cooperation and past efforts
Modi highlighted the importance of promoting the "Five Ts" — trade, technology, tourism, talent, and tradition — to boost collaboration.
He suggested creating an online portal to connect the private sector and stakeholders across all countries.
Modi emphasized India's progress in the Support for Small and Medium Enterprises (SMEs) sector and mentioned a one-million-dollar grant announced during the previous India-CARICOM meeting.
He urged for focused implementation of this grant to support the SME sector in CARICOM countries.
In 2019, India and CARICOM countries discussed cooperation on renewable energy and climate change, with India providing a $150 million credit line.
CARICOM (Caribbean Community)
It is an organization of Caribbean countries and dependencies originally established as the Caribbean Community and Commons Market in 1973 by the Treaty of Chaguaramas.
Main Purposes:
Promote economic integration and cooperation among its members;
To ensure that the benefits of integration are equitably shared;
To coordinate foreign policy;
It has 15 members; Antigua and Barbuda, The Bahamas, Barbados, Belize, Dominica, Grenada, Guyana, Haiti, Jamaica, Montserrat, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Suriname, and Trinidad and Tobago.
The Chairmanship of the Community is rotated every six months among the member countries' Heads.
The CARICOM Secretariat in Georgetown, Guyana, is the principal administrative organ of the Community and is headed by a Secretary General
COMMENTS