India announces $175 million package for Seychelles; focus on housing, e-mobility, maritime security

Prime Minister Narendra Modi on Monday announced a special economic package of $175 million for Seychelles to support projects across housing, e-mobility, vocational training, health, defence and maritime security in the archipelago.

Addressing a joint press meet with Seychelles President Patrick Herminie, PM Modi said the President’s visit comes in a milestone year as Seychelles marks its 50th Independence Day while India and Seychelles celebrate 50 years of diplomatic relations.

“I am confident that these milestones will continue to inspire us to scale new heights,” Modi said.

Modi said India and Seychelles share a relationship that goes far beyond political engagement, rooted in centuries-old people-to-people contacts across the Indian Ocean.

“India and Seychelles are connected not just by geography, but by history, trust and a shared vision for the future,” he said, adding that Seychelles, as a maritime neighbour and trusted partner, is an integral part of India’s ocean vision.

The prime minister said discussions during the visit paved the way for strengthening cooperation across sea, land and air, and both sides agreed to explore new opportunities to deepen economic engagement.

Along with promoting trade in local currencies, the two countries will also move forward in fintech and digital solutions, he said.

Announcing the USD 175 million special economic package, Modi said the funds would support priority sectors identified by Seychelles, including social housing, e-mobility, vocational training, health, defence and maritime security.

He said the initiatives are expected to generate employment and skill development opportunities, especially for the youth.

Modi also underlined the role of India’s Indian Technical and Economic Cooperation (ITEC) programme in capacity building in Seychelles, and said an MoU is being signed for training Seychelles civil servants in India.

Modi said both sides will expand collaboration on renewable energy, resilience and climate adaptation solutions, while the blue economy would be a natural area of partnership for the two maritime neighbours.

He added that people-to-people ties remain the strongest pillar of the relationship, with the Indian community in Seychelles contributing significantly to the country’s social and economic life.

“We discussed strengthening these ties further through tourism, education and sports, with special emphasis on increasing youth exchanges,” Modi said.

He also announced the release of the India-Seychelles Joint Vision, which will serve as a roadmap for bilateral cooperation in the coming years.

During the visit, Modi and Herminie witnessed the exchange of several Memorandums of Understanding as part of the bilateral engagements.