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Indian investors from several startup companies are seeking business opportunities in Jamaica, a growing business destination within the Caribbean. A delegation of thirty businessmen led by Dr. J.A. Chowdary, Founder of the International Startup Foundation (ISF) in India, recently visited to explore the potential in several sectors. 

Dr. Chowdary is a renowned ecosystem builder, entrepreneur, technology leader and innovator with an illustrious career spanning private and public sectors. He mandated his organisation to collaborate with over 50,000 startups across the globe and foster their growth and resilience.  

In Jamaica, the delegation focused on opportunities within the software engineering, agriculture, agro-tech, tourism and real estate industries.  

“Jamaica is very close to North American markets. Any product you develop in Jamaica with support from the Indian start-up companies can be sold to North America very easily,” Dr. Chowdary shared. 

To help the delegates better understand Jamaica’s business climate and investment facilitation services, the Jamaica Promotions Corporation (JAMPRO) partnered with ISF and the Bioprist Institute of Medical Sciences (BIMS) to host a Global CXO Summit recently.  

Stakeholders had the opportunity to exchange ideas, best practices and innovative solutions that could drive growth in the technology, tourism, agro-processing and manufacturing sectors and by extension strengthen the Jamaica-India diplomatic synergy. 

The Jamaican Government is also embarking on several development projects to improve infrastructure and connectivity to facilitate business. Jamaica is also globally recognised for its strong post-covid economic recovery and an unprecedented low unemployment rate of 4.2% in 2023, according to the Planning Institute of Jamaica (PIOJ).  

The World Bank noted that the Jamaican government “has successfully implemented fiscal consolidation measure, reducing the public debt-to-GDP ratio by more than 60 percentage points to 75.5% in 2023 – the lowest level in 25 years.” The Bank expects that mining, tourism and private investment in hospitality capacity and infrastructure to continue to drive growth.  

While Jamaica is well-known in traditional markets such as the United States, United Kingdom, Canada and Europe, investors will also benefit from growing demands in Latin America. Over 60 airlines fly directly into the country’s three international airports and six major seaports to facilitate easy airlift and gateway access to global markets.  

The Jamaica Promotions Corporation (JAMPRO) facilitates investors engaging with Brand Jamaica, providing support in site selection and facilitating reliable buyer-to-supplier agreements through a strong and diverse domestic linkages network. The organisation’s investment team also assists investors in navigating local regulations and obtaining permits, licenses, approvals and other requirements. 

For more information visit www.dobusinessjamaica.com or email info@dobusinessjamaica.com.