Bilateral Trade Bilateral Trade

Trade with India in the year 2016 

 (Figures in Million US Dollars)

Seychelles’ export to India

Seychelles’ import from India

Total bilateral trade

Growth % of Export to India compared to previous year (2015)

Growth % of Import from

India compared to previous year (2015)

0.038

52.68

 

52.72

30%

30%

*Information sourced from National Bureau of Statistics, Seychelles. 

  In 2016, Seychelles imports from India was 4.94% of Seychelles’ total imports from other countries.  India stood at 5th position by way of exports to Seychelles. 

  Seychelles major imports from India are rice, maize, meat of bovine animals, butter and other fats and oils derived from milk, dairy spreads, ice cream and other edible ice, etc., fresh or chilled vegetables (onions, garlic, potatoes etc.), sunflower seed, cotton-seed oil, soya beans, wheat, wheat flour, bread, pastry, cakes, biscuits, medicines, articles for packing of goods, various cement (Portland cement, aluminous cement, slag cement, supersulphate cement etc.), wall tiles, glazed ceramic tiles, medicines, hardware items, insulated cables, wires and electrical conductors with or without connectors, optical fibre cables , tubes, plumbing and pipe fittings (couplings, elbows, sleeves etc.) of iron or steel, plywood, veneered panels and similar laminated wood, electrical transformers etc. 

  This is as per the official records. In reality, a large amount of consumer items and food products which are imported from UAE are sourced from India. 

  Main commodities exported to India are other nuts, fresh or dried, ferrous waste and scrap. 

  Among the Indian companies present in Seychelles, Bank of Baroda has been maintaining a successful overseas branch in Victoria since 1978. In the private sector, M/s Bharti Airtel Telecom group has invested over US$ 25 million in setting up the Airtel mobile telephone and internet services in Seychelles since 1998.  TATA has supplied most of the fleet of buses for Seychelles to ply between its capital city Victoria and other regions of Mahé Island. Hyundai cars are popular in Seychelles and all the models plying on Seychelles roads are manufactured in Chennai. 

  The level of economic engagement including trade and investment does not measure up to the overall bilateral relationship. Although the business community in Seychelles is primarily Indian and the goods available in the market are mostly sourced from India, the volumes are less given the small size of the population. The scope of enhancing bilateral trade and investment regime has been discussed over the years, and it is felt that the approach should shift to a third country focus. It has been proposed to conduct a study to identify products which have not only ready market in Seychelles but offers scope for re-export. Similarly, the scope of investment could be viewed not only in the small territorial landscape of Seychelles but also as joint venture opportunities directed at emerging African and other third country markets. The High Commission has been engaging with the local business community (primarily Indian) with an eye on a qualitative transformation in our bilateral economic engagement with Seychelles. 

 

Medical Tourism 

 Medical tourism is significant in the Seychelles context given the limited healthcare facilities available in this small island nation. As a country with strong commitment towards welfare measures for its citizens, Seychelles funds overseas treatment of patients for facilities not available locally. India has traditionally been Seychelles’ favoured destination primarily due to the high quality medical treatment available at relatively low cost. The only other country which competes with India in this sector is Sri Lanka. The Government of Seychelles has signed an MoU with the super-specialty MIOT Hospital in Chennai for treatment of its nationals. Meanwhile, the Mission continues to promote medical tourism by widely disseminating information on medical facilities available in India. Consequently, flow of patients from Seychelles to India has grown steadily, particularly after resumption of direct air connectivity since December 2014. This can be gauged from the fact that medical visas account for 45% of all visas issued by the High Commission in 2016. 

 

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2017-07-12 14:31:01
 
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