India has announced a $175 million special economic package for Seychelles, marking a significant strengthening of bilateral relations in the Indian Ocean region. The package, unveiled following talks between Prime Minister Narendra Modi and Seychelles President Patrick Herminie in New Delhi, underscores India’s commitment to sustainable development, security, and economic cooperation with its maritime neighbour.
Key Components of the $175M Package
The assistance comprises $125 million in a rupee‑denominated Line of Credit and $50 million in grant support, tailored to Seychelles’ priorities. Funds will support projects in social housing, e‑mobility, vocational training, healthcare, defence, and maritime security, creating employment and skill opportunities for Seychellois youth. India will also supply 1,000 metric tonnes of grains and lentils to bolster food security.
Prime Minister Modi emphasised that the partnership is “connected not just by geography, but by history, trust, and a shared vision for the future,” positioning Seychelles as an integral part of India’s SAGAR (Security and Growth for All in the Region) vision.
Seven Agreements Signed for Deeper Ties
Alongside the package, the two nations inked seven Memorandums of Understanding (MoUs) covering pharmaceuticals, digital governance, ocean observation, data sharing, maritime scientific research, and training for Seychellois officials. These pacts aim to enhance trade in local currencies, fintech collaboration, and health infrastructure through affordable Indian medicines.
The agreements also promote digital transformation, with India sharing expertise to streamline Seychelles’ public services and governance.
New Joint Vision for Partnership
The leaders adopted the India–Seychelles Joint Vision for Sustainability, Economic Growth, and Security through Enhanced Linkages (SESEL), providing a roadmap for expanded cooperation in sustainability, trade, economy, and security. Modi described the meeting as ushering in a “new and more dynamic phase” in ties.
This initiative builds on India’s role as a reliable development partner, focusing on Seychelles’ needs while advancing shared goals in the western Indian Ocean.
