PM Modi announces special economic package of $175 million for Seychelles

New Delhi: Calling development partnership a “strong foundation” of New Delhi-Victoria ties, Prime Minister Narendra Modi on Monday announced a special economic package of $175 million for Seychelles to support concrete projects in various sectors like social housing, e-mobility, vocational training, health, defence and maritime security.

While addressing a joint press meet with Seychelles President Patrick Herminie following their talks at Hyderabad House in Delhi, PM Modi said, “Development partnership has been a strong foundation of India-Seychelles relations. All our efforts have been based on Seychelles’ priorities and needs. Moving forward in this direction, today we are going to announce a Special Economic Package of $175 million. This package will support concrete projects in sectors such as social housing, e-mobility, vocational training, health, defence and maritime security.”

These initiatives, according to the Prime Minister, will create employment and skill development opportunities for the people of Seychelles, especially the youth.

“India’s ITEC program has played a significant role in capacity building in Seychelles. I am pleased that an MoU is being signed today for the training of Seychelles civil servants in India,” he added.

PM Modi announced that India and Seychelles agreed to continue exploring new opportunities to strengthen economic cooperation between the two nations. He stated that two nations will move forward in fintech and digital solutions and promote trade in local currencies.

“The ties between India and Seychelles are not limited to diplomatic contact. The waves of the Indian Ocean have connected our people for centuries. On its shores, trade between the two countries has grown, cultures have blended, and the traditions of faith have become stronger. India and Seychelles are connected not just by geography, but by history, trust and shared vision for the future,” he said.

PM Modi called Seychelles an integral part of India’s MAHASAGAR Vision, and said, “Our relationship spans the past, the present, and the future. As a maritime neighbour and trusted partner, Seychelles is an integral part of India’s MAHASAGAR Vision. Our cooperation encompasses land, sea, and air.”

Extending a warm welcome to Herminie and his delegation to India and wishing him on his election as President of Seychelles.

“This is his first visit to India as President. His visit is taking place in an auspicious year, as Seychelles celebrates its 50th Independence Day, and we commemorate the 50th anniversary of our diplomatic relations. I am confident that these milestones will continue to inspire us to reach new heights,” he added.

IANS