As Prime Minister Narendra Modi prepares for his State Visit to Seychelles, the economic partnership between the two Indian Ocean neighbours continues to expand steadily, with growing trade, enhanced connectivity, increased investments and deeper cooperation in renewable energy and the blue economy.
Although bilateral trade remains modest due to the absence of a direct shipping line, India and Seychelles have maintained a stable commercial relationship, supported by increasing investments, expanding aviation links and collaboration in sustainable development.
Bilateral Trade Maintains Upward Momentum
India continues to be one of Seychelles’ important trading partners, supplying a wide range of essential commodities. India’s key exports to Seychelles include rice, processed food products, cement, textiles, cotton, vehicles and transport equipment, pharmaceuticals, as well as medical and surgical instruments.
According to official figures, bilateral trade reached USD 84.88 million during 2023-24, registering nearly 15 per cent growth over the previous financial year. India exported goods worth USD 76.19 million, while imports from Seychelles stood at USD 8.69 million.
Trade has remained steady in the current financial year as well. Between April 2024 and February 2025, total bilateral trade stood at USD 72.92 million, with Indian exports accounting for USD 68.64 million and imports from Seychelles valued at USD 4.28 million.
Indian Companies Expand Presence in Seychelles
Several Indian companies have established a long-standing presence in Seychelles, contributing to the country’s financial services, telecommunications and transport sectors.
Bank of Baroda has operated a successful overseas branch in Victoria since 1978, serving businesses and residents alike.
Indian telecom major Bharti Airtel has invested more than USD 25 million in Seychelles since entering the market in 1998, providing mobile and internet services across the island nation.
India has also emerged as a key supplier of public transport infrastructure. Tata Motors has supplied a significant portion of Seychelles’ public bus fleet, while Ashok Leyland has recently entered the market, strengthening India’s footprint in the transport sector.
Direct Air Connectivity Boosts Tourism
Air connectivity between the two countries has improved significantly over the past decade.
Following a bilateral agreement signed in 2014, Air Seychelles launched direct flights between Mahé and Mumbai, with weekly services continuing to operate.
A major boost came in March 2025, when IndiGo Airlines began operating four direct flights every week between Mumbai and Mahé. The expanded connectivity has contributed to a steady rise in Indian tourists visiting Seychelles while making travel more convenient for business and cultural exchanges.
Tax and Economic Cooperation Deepen
India and Seychelles have strengthened financial cooperation through the signing of a Tax Information Exchange Agreement (TIEA) during the Seychelles Presidential visit to India in 2015.
The agreement enhances transparency in tax matters and supports closer financial cooperation between the two countries.
Blue Economy Emerges as Key Area of Partnership
As maritime nations in the Indian Ocean, India and Seychelles have placed increasing emphasis on cooperation in the Blue Economy.
A Blue Economy Protocol, signed during Prime Minister Narendra Modi’s visit to Seychelles in 2015, has provided a framework for collaboration in sustainable marine resource management, ocean-based economic development and environmental conservation.
The two countries have also consistently supported each other’s positions at international forums on climate change and sustainable development.
Renewable Energy Partnership Expands
Clean energy has emerged as another major pillar of India-Seychelles cooperation.
Seychelles became one of the founding members of the International Solar Alliance (ISA) after ratifying its Framework Agreement in 2017, reinforcing its commitment to renewable energy.
The partnership has since expanded through several solar energy initiatives.
In October 2024, Seychelles commissioned a five-metric-tonne solar-powered cold storage facility on Praslin Island under an agreement signed with the ISA during COP27 in Egypt.
The project is expected to improve food preservation while promoting clean energy solutions.
Additionally, three more renewable energy projects – including solar rooftop systems, solar pumps and solar chillers – are planned in Seychelles under the Quad Climate Initiative, further strengthening cooperation in sustainable infrastructure.
Partnership Aligned with Sustainable Growth
India’s economic engagement with Seychelles increasingly reflects a broader partnership that combines trade, investment, connectivity and sustainable development.
From expanding aviation links and commercial investments to supporting renewable energy and the blue economy, the two countries continue to diversify their cooperation while reinforcing their shared vision for inclusive growth and resilience in the Indian Ocean region.
With PM Modi’s upcoming visit expected to provide fresh momentum, both countries are likely to explore new opportunities to deepen economic ties and strengthen their strategic partnership in the years ahead.
