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.
PM Modi announces special economic package of USD 175 million for Seychelles
Prime Minister Narendra Modi on Monday announced a USD 175 million special economic package for Seychelles to support the developmental needs of the island nation, especially in the fields of public housing, mobility, infrastructure, capacity building, and maritime security.
India and Seychelles also exchanged several MoUs in the fields of health, digital, meteorology, culture, ocean science, food and governance after wide-ranging talks between PM Modi and visiting Seychelles President Patrick Herminie here.
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‘’India and Seychelles are connected not just by geography, but by history, trust and a shared vision for the future,’’ the Indian leader said at a joint press interaction with the Seychelles President.
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Modi welcomed Seychelles as a full-time member of the Colombo Security Conclave and said defence and maritime cooperation are important pillars of the relationship with the Indian Ocean Archipelago.
He further noted that India and Seychelles would expand cooperation in the areas of renewable energy, resilience, and climate-adaptive solutions. As maritime neighbours, the blue economy is a natural area of cooperation between the two countries, and India will share its expertise in marine research and capacity building with Seychelles, he added.
Addressing the joint press meet with President Dr. Patrick Herminie of the Republic of Seychelles.
https://t.co/gKZQcH960T— Narendra Modi (@narendramodi) February 9, 2026
The PM observed that a digital transformation is taking place. Under this, India will share its successful experience with Seychelles. ‘’We will move forward together with Seychelles in ensuring the supply of affordable and quality medicines, promoting medical tourism, and developing health infrastructure,” he said.
He hailed how the Indian community settled in Seychelles has made remarkable contributions to the social and economic life of Seychelles, and also strengthened our friendship from generation to generation. “Through close cooperation in the field of technology, we are giving our partnership a futuristic direction”, he added.
“Development partnership has been a strong foundation of India-Seychelles relations. All our efforts have been based on the priorities and needs of Seychelles. Moving forward in this direction, today we are going to announce a Special Economic Package of 175 million dollars. This package will support concrete projects in areas such as social housing, e-mobility, vocational training, health, defence and maritime security”, Modi said.
In his remarks, the Seychelles President said that as key Indian Ocean States, maritime security and regional stability remain central to the India-Seychelles relationship.
“Economic engagement and development support featured prominently in our exchanges. We discussed approaches to advance priority initiatives through appropriate development cooperation instruments, including project-based support and lines of credit. As Indian Ocean states, maritime security and regional stability remain central to our relationship,” President Herminie said.
He noted that the collaboration between India and Seychelles in maritime surveillance, security and defence capacity development continues to play a vital role in countering transnational crime, piracy and other maritime threats.
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