India - Guatemala Business and Cultural Council - Global India Business Forum

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India - Guatemala Business and Cultural Council

Guatemala, in Central America, is known for its rich Mayan heritage, vibrant culture, and diverse landscapes, including volcanoes and rainforests. Its capital, Guatemala City, is a bustling hub, while historic sites like Tikal attract many visitors.

Ambassador and Consul General

India - Guatemala Business and Cultural Council

The Ambassador of the Republic of Guatemala to the Republic of India, H.E. Omar Lisandro Castaneda Solares praised Global India Business Forum’s recently-organized India-Latin America and Caribbean Countries Business Conclave when the GIBF team met him on March 27, 2024. The ambassador who was unable to attend the Conclave due to prior commitments assured the GIBF team of his presence in the next event. He said that the Conclave was appreciated by the diplomats of the Latin America and Caribbean Countries. Founder and Global President of GIBF, Dr. Jitendra Joshi and Co-founder and Secretary General, Deepali Gadkari felicitated the ambassador and presented a memento to the ambassador. They mutually agreed to work together for benefitting the economies of their respective countries.

Coffee, Bananas, Palm Oil, Raw Sugar, and Knit Sweaters

Petroleum, Video Displays, Cars, Packaged Medicaments, and Delivery Trucks

About Guatemala

Guatemala, a nation in Central America, is distinguished from its Central American neighbours by the presence of an Indigenous culture in its interior uplands. The origin of the name Guatemala is believed to be Indigenous, but its exact derivation and meaning remain unknown. Some people believe that the original form was Quauhtemallan, indicating an Aztec rather than a Mayan origin and meaning "land of trees," while others suggest that it is derived from Guhatezmalha, which means "mountain of vomiting water," likely referring to volcanic eruptions such as the one that destroyed Santiago de los Caballeros de Guatemala (now Antigua Guatemala), the first permanent Spanish capital of the region's captaincy general. The country's present-day capital, Guatemala City, is a significant metropolitan center, and the western highlands' Quetzaltenango is the heart of the Indigenous population.
Guatemala is bounded to the north and west by Mexico, to the northeast by Belize and (along a short coastline) by the Gulf of Honduras, to the east by Honduras, to the southeast by El Salvador, and to the south by the Pacific Ocean.

Business Opportunities in Guatemala

Guatemala presents several business opportunities due to its strategic location, large workforce, and growing economy. Sectors with potential include agriculture, leveraging its fertile land and diverse climate for high-quality exports. Tourism is another strong contender, given its rich cultural heritage, stunning natural landscapes, and growing infrastructure. Additionally, manufacturing and export-oriented industries can benefit from low labor costs and access to regional markets. While challenges like infrastructure and bureaucracy exist, the country's overall positive business climate and increasing foreign investment make it an attractive option for entrepreneurs and investors. Manufacturing, commerce, private services, and agriculture are the biggest estimated economic sectors in Guatemala.

Exports and Imports In Guatemala

Overview In 2022, Guatemala was the number 68 economy in the world in terms of GDP (current US$), the number 84 in total exports, the number 73 in total imports, the number 107 economy in terms of GDP per capita (current US$) and the number 76 most complex economy according to the Economic Complexity Index (ECI).

Top Exports of Guatemala

The top exports of Guatemala are Coffee ($1.15B), Bananas ($1.12B), Palm Oil ($937M), Raw Sugar ($816M), and Knit Sweaters ($553M), exporting mostly to United States ($5.23B), El Salvador ($2.03B), Honduras ($1.58B), Nicaragua ($1B), and Mexico ($692M).

Top Imports of Guatemala

The top imports of Guatemala are Refined Petroleum ($4.4B), Video Displays ($795M), Cars ($706M), Packaged Medicaments ($598M), and Delivery Trucks ($594M), importing mostly from United States of America ($10.1B), China ($5.47B), Mexico ($2.86B), El Salvador ($1.21B), and Costa Rica ($821M).

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