VICTORIA, Seychelles, June 29: The Unified Payments Interface (UPI) system will become operational in Seychelles by the end of this year, Foreign Secretary Vikram Misri said on Sunday.
Addressing a special briefing on Prime Minister Narendra Modi’s state visit to Seychelles, Misri said that while India and Seychelles do not yet have a comprehensive economic partnership, they share a strong and substantive bilateral relationship.
On cooperation under the Indian Technical and Economic Cooperation (ITEC) programme, Misri noted that Seychelles is a significant participant, with around 90 training slots annually being utilized across various sectors.
“On Indian Technical and Economic Cooperation Programme (ITEC) cooperation, Seychelles is a fairly significant user of… I don’t know how many ITEC slots do you have annually? 90, so yeah, there is considerable use of ITEC training in a variety of areas by Seychelles. Timeline for UPI, I believe it will be operational by the end of the year. Yeah, yeah, so the target is to get it operational by the end of the year,” he said.
On the prospect of a broader economic partnership, Misri said discussions are ongoing, noting that bilateral trade remains relatively modest but has potential for expansion given Seychelles’ economic structure and priorities.
“Well, the comprehensive economic partnership thing, I can confirm that there have been discussions on this issue. I mean, right now, the bilateral trade is not very large, but it would make sense. I think given the significance of specific economic activities to the economy of Seychelles, it would make sense to perhaps explore this idea and we will take it back to authorities in India and try and see what we can do with this,” he said.
He added that while no formal designation currently exists for the partnership, recent developments reflect a strong and substantive relationship between the two countries.
“There is enough in the relationship, especially what has been achieved during the current visit, for it to be regarded as a very, very substantive partnership already,” Misri said.
Prime Minister Narendra Modi and Seychelles President Patrick Herminie held official talks during the state visit, focusing on strengthening cooperation in health, education, capacity building, digital transformation, sustainable development, renewable energy, maritime security, and defence.
Both sides also exchanged views on regional and global issues, including challenges in the Indian Ocean region such as illegal fishing, drug trafficking, and piracy.
The leaders expressed satisfaction over the implementation of projects under the Special Economic Package announced by India, with Prime Minister Modi reaffirming India’s commitment to supporting Seychelles’ development priorities and deepening bilateral ties. (ANI)
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