India, Seychelles sign $175M special economic package, other MoUs
What's the story
India and Seychelles have signed a $175 million Special Economic Package to support projects in social housing, e-mobility, vocational training, health, defense, and maritime security. The agreement was signed during a joint meeting between Prime Minister Narendra Modi and Seychelles President Patrick Herminie. "This package will support various projects in sectors such as social housing, e-mobility, vocational training, health, defense, and maritime security. These initiatives will create employment and skill development opportunities for the people of Seychelles," PM Modi said.
Training agreements
India to train Seychelles civil servants
During the meeting, PM Modi revealed that one of the signed MoUs is for training Seychelles civil servants in India. He said these initiatives would create employment and skill development opportunities for Seychellois youth. Both countries also agreed to explore new avenues of economic cooperation, including increasing trade in local currencies and collaborating on fintech and digital solutions.
Diplomatic invitation
Herminie invites PM Modi for Seychelles's 50th independence day celebration
Addressing the joint press conference, President Herminie said in June, Seychelles and India will commemorate the golden jubilee of their diplomatic relations, coinciding with Seychelles' 50th anniversary of independence, to which Modi has been invited as a guest of honor. "We have shared our...vision on cooperation over the next 5 years...As Indian Ocean states, maritime security and regional stability remain central to our relationship...Tourism remains a cornerstone of...Seychelles economy, and India represents a growing market supported by improving air connectivity."
Future roadmap
India-Seychelles Joint Vision to be released today
He said the countries also focused on trade, investment and opportunities for greater collaborations. "India's growing role in health diplomacy, including the sharing of medical expertise, institutional partnerships, and specialized care, has delivered tangible benefits to the people of Seychelles...We signed a Memorandum of Understanding on sharing successful digital solutions for digital transformation," he said. Both countries will release the India-Seychelles Joint Vision on Monday, which will serve as a roadmap for their cooperation in the coming years.