Prime Minister Narendra Modi on Monday announced a special economic package of $175 million for Seychelles, aimed at supporting concrete projects across social housing, e-mobility, vocational training, health, defence, and maritime security sectors.
The announcement came during a joint press conference with Seychelles President Patrick Herminie at Hyderabad House, following bilateral talks focused on strengthening India-Seychelles economic and strategic ties. Modi described the development partnership as a “strong foundation” of the bilateral relationship, emphasizing that all initiatives are aligned with Seychelles’ priorities and development needs.
“The $175 million package will back projects across multiple sectors, providing employment and skill development opportunities for the people of Seychelles, particularly the youth,” Modi said.
Highlighting India’s contribution to capacity building, the Prime Minister noted the role of the Indian Technical and Economic Cooperation (ITEC) program. An MoU was signed during the visit to facilitate training of Seychelles civil servants in India, further solidifying the partnership.
Modi also underlined the nations’ intent to explore new avenues for economic cooperation, including fintech, digital solutions, and promoting trade in local currencies. He emphasized that India and Seychelles share deep historical and cultural ties, strengthened over centuries of maritime trade and exchange.
“The waves of the Indian Ocean have historically connected our peoples. Our relations extend beyond diplomacy, reflecting a shared vision for the future,” Modi said, stressing Seychelles’ role as an integral part of India’s MAHASAGAR Vision, which encompasses strategic cooperation across land, sea, and air domains.
President Herminie, on his first visit to India since being elected, was welcomed warmly by Modi. The visit coincides with a significant year for Seychelles, marking its 50th Independence Day, and the 50th anniversary of diplomatic relations with India. Modi expressed confidence that these milestones will inspire further cooperation between the two countries.
The economic package is expected to facilitate a wide range of development initiatives in Seychelles, strengthening bilateral ties while promoting sustainable growth and regional stability. Both leaders reiterated their commitment to deepening collaboration across strategic, economic, and social sectors, reflecting the growing importance of the India-Seychelles partnership in the Indian Ocean region.
India’s focus on Seychelles is part of its broader MAHASAGAR Vision, which seeks to strengthen maritime partnerships and regional engagement across the Indian Ocean, ensuring security, development, and mutual growth with neighboring island nations.
