PM Modi's upcoming Seychelles visit triggers intense market interest, says industry leaders

Victoria-Mahe [Seychelles], June 26 (ANI): The announcement of Prime Minister Narendra Modi’s State visit to Seychelles, scheduled for June 27-29, has significantly boosted the island nation’s international trade visibility. Prime Minister Modi will attend the country’s Golden Jubilee National Day celebrations on June 29 as the Guest of Honour.

The diplomatic engagement has already triggered heightened interest from global businesses looking to establish new trade channels with local merchants. Industry leaders noted that the visit is reshaping commercial interest in the region.

Speaking to ANI, members of the Indian diaspora stated that the strategic anticipation surrounding the visit is already reshaping commercial interest in the region.

“As soon as the news comes out that PM Modi is visiting, all the other markets have already started looking at Seychelles,” Venu Gopal Beravelli, Group Managing Director of Global Supply Centre Group, told ANI.

As a 100% import-oriented economy, Seychelles presents a substantial structural opportunity for Indian exporters to fill existing supply gaps. Currently, India accounts for less than 50% of Seychelles’ total imports, leaving significant room for expansion in sectors such as food, medical supplies, tourism, and construction materials.

“Now, Seychelles is a very small country, and very few people know about it. But now it’s getting major worldwide visibility. We look forward to it,” Beravelli said.

The island nation operates as a fully import-dependent economy, presenting a substantial structural gap for Indian exporters to fill. Currently, inbound shipments from India account for less than half of the total goods flowing into the country, leaving significant room for expansion across essential sectors.

“Seychelles is a 100% import oriented country. And so we need a lot of imports to be coming from different parts of the world. Right now, maybe we are not even 50% of what we import from India,” Beravelli added. “So that means there’s so much opportunity which we can import from India and also distribute in this country,” he added.

According to local industry representatives, the heightened diplomatic spotlight has already translated into direct corporate outreach, with international suppliers initiating contact with domestic trading firms.

“Opportunities are coming up, doors are opening. Even a lot of businesses have already started contacting Seychelles traders, asking if they need any goods to be imported. So visibility is already there,” Beravelli said.

“Food is the basic thing — a lot of companies here are into food and FMCG and construction materials,” Beravelli noted. “Construction materials already, the majority of them come from India. But still, there is a market share which is missing and going to China and other parts of the world. So this is one opportunity we are looking at: food, medical, tourism, and also construction.”

The upcoming visit coincides with a major national milestone for Seychelles, adding historical weight to the bilateral proceedings.

“The visit of PM Modi to Seychelles, especially celebrating our 50th year of independence, is extremely important for Seychelles. We are very proud,” Seychelles Chamber of Commerce & Industry Secretary General, Iouana Pillay, told ANI.

“This occasion is very prestigious for us here in Seychelles and for the private sector that we continue to strengthen our connection with India,” Pillay said.

The two nations previously institutionalised their economic cooperation through formal frameworks covering foundational sectors, which local authorities now intend to operationalise more aggressively.

“We have signed MoUs in agriculture, health, and trade with India. Seychelles should strengthen these areas and work more closely with India,” Pillay stated.

“This visit is showing the strength between the two countries and also displaying how much we’ve grown together,” Pillay added. “There’s a great possibility for us to strengthen the trade between the two countries, identify the great gaps and find ways how we can mitigate them together.”

PM Modi will hold high-level discussions with President Herminie during the visit to review the entire gamut of bilateral cooperation and exchange perspectives on regional and global issues of mutual significance.

Furthermore, PM Modi is slated to address the Seychelles National Assembly and engage with members of the Indian diaspora. (ANI)

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