India To Extend USD 175 Mn Special Economic Package To Seychelles

(MENAFN- KNN India) New Delhi, Feb 10 (KNN) India and Seychelles agreed to deepen their strategic partnership following the meeting between Prime Minister Narendra Modi and Seychelles President Dr Patrick Herminie in New Delhi on Monday.

India announced a USD 175 million Special Economic Package for Seychelles, consisting of a USD 125 million rupee-denominated Line of Credit and USD 50 million in grant assistance.

The support will be used for development projects, capacity building, defence and maritime security. President Herminie described India as a trusted partner and acknowledged its continued development assistance.

The two sides also unveiled a Joint Vision titled Sustainability, Economic Growth and Security through Enhanced Linkages (SESEL) and agreed to strengthen engagement at political, ministerial, official and parliamentary levels.

Cooperation in Digital, Health and Capacity Building

India agreed to support Seychelles' digital transformation through the development of Digital Public Infrastructure (DPI), including digital payments.

The leaders also agreed to recognise the Indian Pharmacopoeia to improve access to affordable medicines and to expand health cooperation through training, deployment of Indian medical professionals and support for building a new hospital.

Both countries agreed to enhance capacity building under programmes such as the Indian Technical and Economic Cooperation (ITEC), covering areas including civil services, defence, health, cybersecurity, climate change, education, vocational training and MSME development.

Trade, Climate and Connectivity

The leaders reaffirmed cooperation in renewable energy and climate resilience, including solar projects under the International Solar Alliance (ISA), early warning systems and green mobility initiatives.

They stressed the need to boost bilateral trade and encouraged Indian investment in sectors such as tourism, blue economy, digital technology and housing. Enhanced air connectivity was also discussed, noting the benefits of direct flights for tourism.

Maritime Security Focus

Maritime security remained a key priority, with both sides reiterating their commitment to a free, open and secure Indian Ocean Region. Cooperation against piracy, trafficking, illegal fishing and other transnational crimes will be strengthened.

India reaffirmed its support for Seychelles' maritime security requirements, including training and provision of assets.

The two leaders also agreed to deepen cooperation in hydrography, with Seychelles set to establish a Hydrographic Unit with Indian assistance.

The third Joint Commission Meeting on Hydrography will be held in Seychelles in early 2026.

(KNN Bureau)

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