India Barbados

1. India Barbados
Economic Relations

2. Facts at a Glance
Official Name Barbados
Type of Government Parliamentary Democracy
Head of State Her Majesty Queen Elizabeth II
HM’s Representative: Governor General
The Hon’ble Sir Clifford Straughn
Husbands, GCMG, KA
Head of Government Prime Minister Mr. Fruendel STUART
Minister of Foreign Senator The Hon. Maxine McClean
Affairs and Foreign
Trade

3. Facts at a Glance
Area 431 sq km
Population 287,733 (July 2011 est.)
GDP $4.4 billion (2011 est.)
(At official Exchange Rate)
GDP (Real Growth Rate) 1.8% (2011 est.)
GDP (PPP) $6.528 billion (2011 est.)
GDP [Per Capita (PPP)] $23,600 (2011 est.)
Inflation Rate 9.1% ( 2011 est.)
Exchange rate Bd$ 2 = US$1(2008)
External Debt $1,123.5 million (2009 est.)
Major Industries: Tourism, Sugar, light
manufacturing, component
assembly for export.

4. Total Global Trade
(Latest available figures)
Marchandise exports: $467.4 million (2011 est.)
[f.o.b. (million US$)]
Marchandise imports:$1,601 million (2011 est.)
[c.i.f. (million US$)]

5. India Barbados Trade
Year 2007-08 2008-09 2009-10 2010-11
EXPORT 2.52 0.82 0.36 0.41
IMPORT 0.03 7.02 1.04 0.00
TOTAL 2.55 7.84 1.40 0.41
TRADE
% GROWTH -8.72 -78.71 -82.19 -70.39
All figures in US$ million

6. Composition of India Barbados
Bilateral Trade
 Exports from India : Garments, spices,
Basmati Rice, other consumer
items, Pharmaceuticals.
 Imports into India : Negligible

7. Potential growth areas for India’s
exports
•Textiles,
•furnishing fabrics,
•hotel supplies,
•solar energy power panels,
•plastic items,
•medical supplies.

8. Potential areas for Project Exports
from India
 Hospitality industry - hotel supplies like bed sheets, terry
towels, curtains etc.
 Management of hotels by Indian hotel chains.
 ICT Sector – Indian BPO companies can have a base in
Barbados
 Financial Sector - Offshore Financial Services
 Computer education
 Pharmaceuticals
 Food Processing, molasses, alcohol, sugar technology,
spices and condiments.
 Non-conventional Sources of Energy - Solar & Wind
Power,
 Bagasse based Power Plants.
 Construction Sector - Indian architects and construction
firms can tap the construction boom

9. Major Export Promotion & Trade
organizations
The Barbados Chamber of Commerce and Industry
1st Floor Nemwil House,
Collymore Rock,
St,. Michael,
Barbados, WI,
Website : http//www.bdscham.com
Tel. : (246) 426 2056/0747 or (246) 228-4205
Fax : (246) 429-2907
E-mail : bdscham@caribsurf.com
Executive Director, Ruall Harris

10. Indian Diaspora
About 150 Sindhi families (total 600) and
3,000 Gujarati Muslims from Surat. Over
150 other professionals including doctors,
engineers, software experts, hotel
employees, nurses, technicians etc.
Sindhis and Gujarati businessmen control a
substantial part of trading in Barbados. They
also own a large number of commercial
properties.
PIOs from UK and Trinidad also own
properties and hotels.

11. Honorary Consulate of India
Dr. PHILOMENA MOHINI-HARRIS,
Honorary Consulate of India
Lot 4
Warrens Healthcare Centre
Warrens
St.Michael
Tel. No. (246) 2710905
e-mail: hcindiabds@caribsurf.com
Open- Monday, Wednesday, Friday
Time: 9:00 AM to 12 Noon