India Announces $175 Million Economic Package for Seychelles, Focus on Housing, E-Mobility, and Maritime Security

India Announces $175 Million Economic Package for Seychelles, Focus on Housing, E-Mobility, and Maritime Security

India Unveils $175 Million Package for Seychelles

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.

The announcement was made during a joint press briefing with Seychelles President Patrick Herminie, coinciding with the 50th Independence Day of Seychelles and 50 years of diplomatic relations between India and Seychelles.

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

Strengthening India-Seychelles Relations

PM Modi emphasized that the relationship between India and Seychelles extends beyond politics, 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 noted, highlighting Seychelles as a maritime neighbour and trusted partner integral to India’s ocean vision.

The discussions during the visit paved the way for strengthened cooperation across sea, land, and air, with both nations agreeing to explore new opportunities for economic engagement.

Economic Package and Key Sectors

The USD 175 million special economic package will support priority sectors identified by Seychelles, including:

• Social housing

  
  

• E-mobility initiatives

  
  

• Vocational training and skill development

  
  

• Health sector projects

  
  

• Defence and maritime security

  
  

The initiatives are expected to generate employment opportunities and enhance youth skill development.

Capacity Building and Technical Cooperation

PM Modi highlighted the role of India’s Indian Technical and Economic Cooperation (ITEC) programme in building capacities in Seychelles. An MoU will be signed for training Seychelles civil servants in India, strengthening institutional collaboration.

Additionally, both nations will expand collaboration in renewable energy, climate adaptation, resilience solutions, and explore opportunities in the blue economy.

“People-to-people ties remain the strongest pillar of the relationship,” Modi said, noting the significant contributions of the Indian community in Seychelles.

Promoting Youth Exchanges and Bilateral Vision

Discussions also focused on tourism, education, and sports, with special emphasis on youth exchanges. PM Modi 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, both leaders witnessed the exchange of multiple Memorandums of Understanding (MoUs), formalizing commitments across sectors and strengthening bilateral ties.