There are opportunities that Indian businesses can explore in the area of fisheries, agriculture and even Bollywood, said Seychelles President Danny Faure here on Monday.

Speaking at a session jointly organised by the Federation of Indian Chambers of Commerce and Industry, Confederation of Indian Industry (CII) and Assocham, Faure said: “Our potential is not in mass producing goods to supply to the world, it lies in the specialist area of resources in the sea.”

Seychelles has an economic zone of 1.4 million sq km, with 150 islands in their archipelago and a large number of outer islands idle. “There are opportunities for tourism, fisheries, agriculture and more. Outer islands provide new opportunities and yet remain unexplored,” he said in a press statement.

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

In terms of tourism, India is still a growing market for Seychelles. “This space is largely occupied by European countries and the UAE. Mumbai is only four hours away by direct flight. We can grow the market,” he added.

Oliver Bastienne, President, Seychelles Chamber of Commerce & Industry, said in the statement, “Trade still heavily remains untapped. Increased commerce between India and Seychelles will only be a win-win proposition for both the nations.”

Sanjay Singh , Member, CII, and Advisor, Tata Sons Ltd, said in the statement, “Though the economic and commercial cooperation between India and Seychelles is small at the moment, there exists a significant scope for enhancement, especially in renewable energy, innovation and infrastructure, sustainable cities and communities, hospitality, tourism, fisheries and financial products companies.”

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