India okays $175m package for Seychelles, inks 7 agreements

NEW DELHI: India announced a special economic package worth $175 million for Seychelles as PM Narendra Modi hosted President Patrick Herminie for a bilateral meeting, reiterating India's continued support and assistance to the Indian Ocean neighbour in meeting its maritime security and defence needs.

Modi said that the package in the form of a $125 million line of credit and another $50 million as grant will support concrete projects in areas such as social housing, E-mobility, vocational training, health, defence and maritime security, creating new employment and skill opportunities for the people of Seychelles, especially the youth.




The two nations signed seven pacts, including one for ocean observation, ocean services, capacity building, data sharing and the conduct of maritime scientific research, while also announcing establishment of a hydrographic unit in Seychelles with Indian assistance.

Modi described defence cooperation and maritime security as important pillars of the bilateral relationship and welcomed Seychelles as a full member of the Colombo Security Conclave. "This will strengthen our mutual coordination and reinforce efforts to ensure peace and stability in the Indian Ocean. Together, we will shape not just bilateral cooperation, but a shared future for the Indian Ocean," he said.

The PM said India and Seychelles are connected not just by geography, but by history, trust and a shared vision for the future. "Alongside expanding trade in local currencies, we will also advance our collaboration in fintech and digital solutions," said Modi, who was invited to Seychelles by the president for its national day celebrations.

According to a joint statement, both leaders acknowledged that a strong Seychelles-India partnership in the maritime security and defence domain reinforces regional stability and security and advances the well-being and prosperity of the people of Seychelles and India.

The leaders further reaffirmed that Seychelles and India remain committed to ensuring a free, open, safe and secure Indian Ocean Region (IOR), underpinned by respect for international law, freedom of navigation and a rules-based maritime order, said the joint statement.

"They reiterated their resolve to work closely to counteract maritime challenges such as piracy, smuggling of narcotics and human trafficking, illegal, unregulated and unreported fishing, and other transnational crimes, including those with linkages to organised crime and terrorism financing, and to reinforce peace, security and stability in the IOR through enhanced maritime domain awareness, information sharing, capacity building and coordinated operational management," said the statement. The leaders acknowledged the nations' ties are people-centric and reinforce security and stability in the Western IOR.
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