The President of the Republic of Seychelles, Dr. Patrick Herminie, yesterday witnessed the exchange of a Memorandum of Understanding (MoU) between the Seychelles Chamber of Commerce and Industry (SCCI) and the Indian Chamber of Commerce (ICC), marking a significant step toward strengthening private-sector cooperation between the two countries. The exchange took place on the sidelines of the India–Seychelles Business Roundtable held in Mumbai.
Speaking following the signing, Secretary General of the SCCI, Ms. Iouanna Pillay, said the agreement reflects the growing momentum in India–Seychelles trade relations and the shared commitment of both chambers to deepen commercial engagement through structured collaboration, business facilitation, and capacity building.
India and Seychelles share a long-standing and trusted partnership spanning several decades, underpinned by strong diplomatic, cultural, and commercial ties. This relationship is further reinforced by the Indo-Seychellois community, which represents an estimated 9–10 per cent of Seychelles’ population and plays a vital role in key sectors including retail, construction, logistics, and services. Bilateral trade continues to show positive growth. In November 2025, India exported approximately USD 7.17 million worth of goods to Seychelles, while imports from Seychelles amounted to USD 1.62 million, resulting in a trade surplus of USD 5.54 million in India’s favour. Between November 2024 and November 2025, Indian exports to Seychelles increased by 25 per cent, alongside a notable rise in imports from Seychelles, signalling expanding commercial activity.
India’s main exports to Seychelles include refined petroleum products, machinery, electrical equipment, pharmaceuticals, iron and steel, and motor vehicles—inputs that are critical to Seychelles’ economy and directly affect construction costs, healthcare affordability, and consumer prices. Ms. Pillay noted that while trade volumes are growing, there remains significant scope to improve the structure and efficiency of trade flows, particularly by addressing logistics-related challenges that contribute to high landed costs. The absence of direct shipping routes between the two countries often necessitates trans-shipment through third countries, adding time, cost, and volatility to supply chains.
She said the SCCI sees potential in exploring commercially viable options such as more direct shipping connections, improved cargo consolidation from India, and positioning Seychelles as a niche regionaltrans-shipment or redistribution hub. These measures, she emphasized, could help reduce freight costs over time, improve supply reliability, and ease cost-of-living pressures.
Beyond logistics, the MoU is expected to support stronger private-sector engagement, including sector-focused trade missions, trade fairs, and buyer–supplier matchmaking initiatives. Such platforms would enable Seychellois businesses to diversify sourcing, negotiate better terms, and explore export opportunities into India and the wider region.
The agreement also places emphasis on capacity building and skills exchange, particularly in construction, logistics, technology, manufacturing support services, and SME development, aimed at strengthening local capabilities and enhancing long-term economic resilience.
The SCCI welcomed closer collaboration with the ICC, as well as continued engagement with government authorities, port operators, shipping lines, and the wider business community, noting that meaningful progress will require coordinated action grounded in commercial viability and mutual benefit.
Strengthening India–Seychelles trade, Ms. Pillay stressed, is not about exclusivity, but about improving efficiency, lowering structural costs, and expanding opportunities in a manner consistent with Seychelles’ open, rules-based trading framework and sustainable development goals.