PM Modi Announces $175 Million Economic Package For Seychelles

Calling the development partnership a ‘strong foundation’ of India-Seychelles relations, PM Narendra Modi on Monday announced a special economic package of $175 million for the island nation.

The package aims to support concrete projects across key sectors, including social housing, e-mobility, vocational training, health, defence and maritime security.

Addressing a joint press conference with Seychelles President Patrick Herminie after their talks at Hyderabad House in New Delhi, the Prime Minister said the initiatives were aligned with Seychelles’ priorities and needs, underlining India’s commitment to its long-term development.

According to PM Modi, the projects under the package will generate employment and enhance skill development opportunities, particularly for the youth of Seychelles. He highlighted the role of India’s ITEC programme in capacity building and expressed satisfaction over the signing of a memorandum of understanding for training Seychelles civil servants in India.

The Prime Minister also said both countries have agreed to explore new avenues to strengthen economic cooperation. He noted that India and Seychelles will move ahead in areas such as fintech and digital solutions, while also promoting trade in local currencies to deepen economic engagement.

Describing Seychelles as an integral part of India’s MAHASAGAR Vision, PM Modi said the bilateral relationship extends across land, sea and air. He emphasised that ties between the two nations go beyond diplomacy, rooted in centuries-old connections through the Indian Ocean that have fostered trade, cultural exchange and shared traditions.

PM Modi extended a warm welcome to President Herminie and his delegation, noting that this was Herminie’s first visit to India as President. He also pointed out that the visit coincides with Seychelles’ 50th Independence Day and the 50th anniversary of diplomatic relations between the two countries, expressing confidence that these milestones would inspire the partnership to reach new heights.