PM Modi Announces $175 Million Economic Support Package for Seychelles
India pledges $175 million to support Seychelles’ development, maritime security, and sustainable growth
New Delhi, Feb 9 — India on Monday unveiled USD 175 million in development assistance for Seychelles after Prime Minister Narendra Modi held comprehensive talks with President Patrick Herminie. The discussions laid out a joint vision for deeper bilateral engagement across trade, economy, and security.
Following the meeting, the two countries signed seven agreements covering digital solutions, exports, data sharing, and maritime scientific research. Both sides also agreed to expand cooperation in sustainability, trade, and economic growth.
Investing in Seychelles’ Development Priorities
PM Modi described the package as a continuation of India’s long-standing commitment to Seychelles’ development needs. “Building on our partnership, today we are announcing a Special Economic Package of $175 million,” he said.
The package includes USD 125 million in a rupee-denominated Line of Credit and USD 50 million in grant assistance. It will support projects in social housing, e-mobility, vocational training, healthcare, defence, and maritime security. Additionally, India will supply 1,000 metric tonnes of grains and lentils under this program.
Shared Maritime and Security Interests
Both leaders emphasized collaboration in hydrography to boost Seychelles’ blue economy. With Indian support, Seychelles will establish a Seychelles Hydrographic Unit (SHU) to enhance marine research and capacity building.
“Defence cooperation and maritime security are important pillars of our partnership,” Modi said, welcoming Seychelles as a full member of the Colombo Security Conclave, which will strengthen coordination and ensure peace in the Indian Ocean region.
Historical and Strategic Ties
Highlighting deep-rooted bilateral relations, Modi said, “India and Seychelles are connected not just by geography, but by history, trust, and a shared vision for the future. Our cooperation spans maritime, land, and air domains under the MAHASAGAR Vision.”
The leaders agreed to continue exploring new avenues for economic cooperation, renewable energy, climate resilience, and the supply of affordable medicines, reinforcing the strategic and developmental partnership between the two nations.
