In a significant move reflecting India’s commitment to regional development, Prime Minister Narendra Modi announced a $175 million special economic package for Seychelles, aimed at supporting the island nation’s key development priorities. The announcement came during a joint press briefing with Seychelles President Patrick Herminie in New Delhi, marking a milestone in the two countries’ long-standing diplomatic and economic partnership.
The package is designed to finance projects that will have a tangible impact on the daily lives of Seychellois citizens. Social housing projects will be a major focus, addressing the pressing need for affordable homes, while investments in electric mobility and vocational training aim to create new employment opportunities, particularly for young professionals. Health infrastructure and maritime security initiatives are also included, reflecting India’s holistic approach to development support.
“This package is about more than funds; it’s about empowering communities and strengthening Seychelles’ capacity for sustainable growth,” Modi said. Analysts note that such initiatives often generate long-term economic benefits, as improved housing, transport, and training contribute to workforce productivity and regional stability.
President Herminie, on his first state visit to India, expressed appreciation for the package, highlighting the strong historical ties and strategic partnership between the nations. He noted that India’s support demonstrates trust and a shared vision for economic resilience and regional stability in the Indian Ocean.
For businesses, this package signals a growing scope for Indian companies to participate in development projects in Seychelles, particularly in infrastructure, technology, and renewable energy sectors.
The agreement also includes capacity-building programs, including training Seychellois civil servants in India, and enhanced digital and trade cooperation, facilitating smoother economic and technological integration. Both governments emphasized that the package aligns with priorities identified by Seychelles and will support projects that directly impact citizens’ livelihoods.
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