India and Seychelles have signed a package of 19 joint projects covering defence, digital payments, space technology, and healthcare. The document was released following talks between Indian Prime Minister Narendra Modi and Seychelles President Wavel Ramkalawan.
Digital Payments and Fintech
One of the key areas is the development of digital payments. India, with its successful UPI system, will help Seychelles build a similar infrastructure. This will enable residents to make fast and secure transfers and pay for goods and services via mobile apps.
Space and Technology
The sides agreed to cooperate in space: India will provide Seychelles with access to its satellite data for climate monitoring, weather forecasting, and natural resource management. They also plan to exchange experience in remote sensing.
Defence and Security
Strengthening maritime security is another important point. India and Seychelles will jointly patrol the Indian Ocean, combat piracy and illegal fishing. New Delhi will also help modernise Seychelles' coast guard.
Healthcare and Education
The package includes construction of hospitals and educational centres in Seychelles, as well as scholarships for Seychellois students in Indian universities. India will also supply medicines and vaccines.
This package is part of India's strategy to increase its influence in the Indian Ocean. For the fintech sector, the adoption of digital payments is particularly significant, opening new opportunities for cross-border transfers and financial inclusion.
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