Seychelles President James Alix Michel calls for firming economic ties with India

NEW DELHI: Asserting that Seychelles was "not just a holiday destination but also a great place for investment", visiting Seychelles President James Alix Michel today called for strengthening commercial ties with India.

"... Seychelles has positioned itself as an ideal place for wealth creation and an excellent location for global and regional cooperation. The economic partnership between India and Seychelles has therefore a lot of potential," Michel said addressing a gathering of Ficci, CII and Assocham here.

Prime Minister Narendra Modi and President of Seychelles today signed five agreements that will spur further economic exchanges between the two nations.

The two countries signed an air service agreement, an MoU for gifting a Dornier aircraft, an MoU for agricultural cooperation, tax information exchange agreement and protocol for blue economy cooperation.

Environment Minister Prakash Javadekar, who was also present at the gathering, noted that India should aim at leveraging from the strategic geographical positioning of Seychelles, as it could serve as a gateway to Africa.

"I wish that our economic cooperation grows very fast to achieve new heights so that both countries will benefit," Javadekar said.

Michel too, highlighted the great potential for the archipelago to emerge as a regional hub for Indian ocean trade due to its strategic geographical positioning and access to the African market.

The new areas of cooperation between the two nations are renewable energy, ICTE, agro processing industries, eco-tourism, biotechnology, tourism and financial services, space collaboration, and also the blue economy, Michel said.

The President said he was "extremely encouraged" by the willingness of the government and people of India to work in Seychelles to harness its potential.