● In­ter­na­tional Re­la­tions

Assocham Bulletin - - FRONT PAGE -

Pres­i­dent of Sey­chelles Mr. Danny Faure in­vited In­dian in­vestors to ex­plore in­vest­ment op­por­tu­ni­ties avail­able in Sey­chelles.

He was speak­ing at the Busi­ness Ses­sion jointly or­ga­nized by AS­SOCHAM, FlCCI, and in New Delhi.

"Our po­ten­tial is not in mass pro­duc­ing goods to sup­ply the world, it lies in the spe­cial­ist area of re­sources in the sea. We have ex­clu­sive eco­nomic zone of 1.4 mil­lion sq. kms and with 150 is­lands in our ar­chi­pel­ago, a large num­ber of outer is­lands lie idle. There are op­por­tu­ni­ties for tourism, fish­eries, agri­cul­ture and more. Outer is­lands pro­vide new op­por­tu­ni­ties and yet re­main un­ex­plored," he said.

He added that fis­cal dis­ci­pline in the coun­try has helped to re­duce the debts and grow at a faster pace. "The eco­nomic re­forms started in 2008. Fis­cal dis­ci­pline and some man­age­ment has al­lowed us to re­duce our debts," he said.

"In­vest in any sec­tor you want and use phys­i­cal beauty of Sey­chelles to set up fa­mous Bol­ly­wood in­dus­try. We will make your in­vest­ment project a func­tion­ing en­ter­prise," said Mr. Faure.

On tourism, he said that In­dia is still a grow­ing mar­ket. "This space is largely oc­cu­pied by Euro­pean coun­tries and UAE. Mum­bai is only four hours away by di­rect flight. We can grow the mar­ket," he added.

Mr. R. K. Singh, Min­is­ter of State (In­de­pen­dent Charge) for Power & Min­istry of New and Re­new­able En­ergy, Govt. of In­dia in his ad­dress high­lighted the need to ex­pand trade ties be­tween the two coun­tries.

"Our re­la­tions have been ex­tremely close. How­ever, our trade fig­ures do not re­flect the close re­la­tions as it should have been. We­need to work on trade. Weare a huge mar­ket and would as­sist busi­nesses from Sey­chelles to in­crease the ac­cess to In­dian mar­ket. We would work for closer re­la­tions in all spheres. We would en­cour­age our in­dus­tries to in­vest in

Sey­chelles," he said

He also elab­o­rated on the op­por­tu­ni­ties power sec­tor pro­vide in In­dia. "We are ex­pand­ing. We will need to add more ca­pac­ity in com­ing years there­fore en­ergy is a good mar­ket." Mr. Oliver Basti­enne, Pres­i­dent, Sey­chelles Cham­ber of Com­merce & In­dus­try (SCCI) said, "Trade still heav­ily re­mains untapped. In­creased com­merce be­tween In­dia & Sey­chelles will only be a win-win propo­si­tion for both the na­tions. We can still do bet­ter than that and that is why we want to work with you."

Mr. A G Yakub, Lead­ing Busi­ness­man from Sey­chelles who is part of the busi­ness del­e­ga­tion in his ad­dress said, "Our main in­ter­est is to pro­mote more di­rect trade links with In­dia aimed at re­duc­ing cost of do­ing busi­ness. Our main fo­cus is on qual­ity and af­ford­abil­ity at com­pet­i­tive rates."

He also added that Sey­chelles can ben­e­fit from con­ces­sions be­stowed upon other na­tions. He urged In­dian gov­ern­ment to grant Sey­chelles a food-se­cu­rity guar­an­tee.

Mr. Ramesh Mutha, Se­nior Ex­ec­u­tive Com­mit­tee Mem­ber, FICCI and MD, Mo­han Mutha Group said, "The scope for fur­ther­ing Sey­chelles en­gage­ment with In­dia holds tremen­dous po­ten­tial and of­fers a unique op­por­tu­nity to the in­dus­try to surge on a path of co-de­vel­op­ment with their re­gional coun­ter­parts."

Mr. San­jay Singh, Mem­ber, & Ad­vi­sor, Tata Sons Ltd. in his wel­come ad­dress said, "though the eco­nomic and com­mer­cial co­op­er­a­tion be­tween In­dia and Sey­chelles is small at the mo­ment, there ex­ists sig­nif­i­cant scope for en­hance­ment, es­pe­cially in Re­new­able En­ergy, In­no­va­tion & In­fra­struc­ture, Sus­tain­able Cities and Com­mu­ni­ties, Hos­pi­tal­ity, Tourism, Fish­eries and Fi­nan­cial prod­ucts com­pa­nies."

Mr. S. C. Ag­gar­wal, Se­nior Manag­ing Com­mit­tee Mem­ber, AS­SOCHAM and Chair­man, SMC Group in his ad­dress added, "In­dia-Sey­chelles busi­ness re­la­tion­ship needs to be re­freshed at all lev­els. Busi­nesses from both the sides need to have a creative ap­proach to­wards chang­ing the cur­rent mind-set and ex­plore busi­ness op­por­tu­ni­ties to its best po­ten­tials."

Mr. R. K. Singh, Min­is­ter of State (In­de­pen­dent Charge) for Power and MNRE, Gov­ern­ment of In­dia re­ceiv­ing H E Mr. Danny Faure, Hon 'ble Pres­i­dent of the Repub­lic of Sey­chelles.

Mr. C. Ag­gar­wal, Se­nior Manag­ing Com­mit­tee Mem­ber, AS­SOCHAM and Chair­man, SMC Group ad­dress­ing the gath­er­ing at the Busi­ness Ses­sion with the Pres­i­dent of the Repub­lic of Sey­chelles and ac­com­pa­ny­ing del­e­ga­tion at New Delhi.

Mr. S. C. Ag­gar­wal, Se­nior Manag­ing Com­mit­tee Mem­ber, AS­SOCHAM with HE Mr Danny Faure, Hon'ble Pres­i­dent of the Repub­lic of Sey­chelles and Mr. R. K. Singh, Min­is­ter of State (In­de­pen­dent Charge) for Power and MNRE, Gal.

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