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Indian Delegation Visits Seychelles to Deepen Investment Ties

đź“· Photo: Ministry of Parliamentary Affairs, Government of India (GODL-India)

A high level Indian delegation visited Seychelles last week for talks on expanding investment in renewable energy, technology and the blue economy, in the latest signal of a partnership that has now run for half a century.

Hosted by the Ministry of Finance, Economic Planning, Trade and Investment, the delegation engaged with stakeholders including the Ministry of Tourism and Culture, the Ministry of Health, the Financial Services Authority, the Trade Division and the Ministry of Industry and Enterprise, according to a press release from the ministry.

The visit followed President Patrick Herminie’s official trip to India in March and Prime Minister Narendra Modi’s reciprocal visit to Seychelles in June, the latter marking the 50th anniversary of the country’s independence. Both visits underscored the depth of a relationship that, according to Wikipedia’s summary of bilateral ties, has rested on “close friendship, understanding and cooperation” since diplomatic relations were established in 1976.

India has maintained a resident High Commission in Victoria since 1987, while Seychelles opened a resident mission in New Delhi in 2008. The two governments have signed a string of instruments over the years, including a bilateral investment promotion agreement in 2010, a US$50 million line of credit and a US$25 million grant extended to Seychelles in 2012 during the visit of then President Pratibha Patil, and a US$100 million defence credit announced by Prime Minister Modi in June 2018.

Indian private sector firms already operate in Seychelles, with Bharti Airtel holding a significant presence after acquiring Telecom Seychelles, and Indian naval cooperation includes support for the Seychelles Coast Guard and a leased facility on Assumption Island.

Arriving at a pivotal moment, the latest visit highlighted shared ambitions to diversify economic ties and build sustainable long term investments. In the short and medium term, such initiatives are expected to strengthen resilience against external shocks, including the ongoing conflict in the Middle East, the press release noted.

Tourism, fishing, petroleum exploration, communications and IT, computer education and pharmaceuticals have been identified as areas of economic cooperation between the two countries, alongside newer priorities such as renewable energy and the blue economy.

The Indian delegation was received by Minister Pierre Laporte, accompanied by principal secretary for Trade and Investment Nathalie Edmond and chief executive of the Seychelles Investment Bureau Anne Rosette.

The Seychelles government’s strategy is to use such missions to convert long standing political goodwill into private capital, particularly in sectors where the country’s small island economy cannot reach scale on its own. The Indian side has framed its own engagement as part of its “Neighbourhood First” and “SAGAR” outlooks on the Indian Ocean region, the latter standing for “Security and Growth for All in the Region”.

Technical cooperation under the Indian Technical and Economic Cooperation Programme has run since the early 1980s, with Seychelles sending officials for training in New Delhi and other Indian cities. Indian hospitals, including MIOT Hospitals and the Madras Medical Mission in Chennai, are designated medical tourism partners for Seychellois patients, while India is also working with Seychelles on a solar power cluster and broader renewable energy cooperation.

The latest talks are expected to feed into a pipeline of joint projects identified by both sides, with the Indian side highlighting renewable energy and technology investments as the most promising near term opportunities. Seychelles, for its part, has positioned the blue economy as the central pillar of its diversification strategy, a frame that dovetails with India’s growing interest in sustainable ocean industries.

Further announcements are expected in the coming months as working groups from both sides begin translating the dialogue into concrete projects.

Sources cited: 1. Wikipedia, “India-Seychelles relations”, .

Chief Creator

Creator-in-Chief of The Seychelles Times

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