AGP Executive Report

Agri-Research Boost: ICAR and Seychelles’ Agriculture Department signed an MoU to deepen agricultural research, education, capacity building and technology transfer, backed by a 2026–2031 work plan covering climate-smart farming, horticulture, post-harvest, livestock and food security. Tourism & Connectivity: Seychelles Tourism Minister Amanda Bernstein said the islands are monitoring geopolitical risks to protect air access and keep tourism resilient, with growing Russian visitor interest and cultural ties shaping services. Diplomatic Momentum: Angola co-chairs the 69th UN Tourism Regional Commission for Africa meeting in Mahé (July 2–4), focusing on sustainable, inclusive tourism policy and recovery. India-Seychelles Digital Payments: India’s UPI rollout in Seychelles is set to expand digital payments infrastructure under an MoU signed during PM Modi’s visit, as India pushes broader cross-border financial connectivity. Tourism Pressure Point: Seychelles saw May visitor arrivals fall 3.4% year-on-year to 27,201, with stopover declines and cruise traffic hit hardest, raising concerns about demand vulnerability. Maritime Business Deal: Maritimo appointed KJM Marine as its exclusive dealer across the GCC and parts of the Middle East/Indian Ocean, including Seychelles, to expand long-range yacht sales and after-sales support. Governance Focus: After returning from Seychelles, PM Modi chaired a high-level meeting with central ministry secretaries on deregulation, ease of doing business and citizen-centric reforms.

India–Seychelles Deal Push: PM Narendra Modi’s 3-day state visit delivered nine agreements across digital payments, healthcare, maritime security, agriculture, space and legal cooperation, plus a $175m (₹1,250cr) line of credit and the handover of a Made-in-India fast patrol vessel—while Modi became the first Indian PM to address Seychelles’ National Assembly and received the “Guardian of the Blue Horizon” environmental honour. Digital Payments: A MoU was signed to bring UPI to Seychelles, with officials saying UPI infrastructure deployment is planned ahead of wider live use. Tourism Pressure: Seychelles saw May visitor arrivals slip 3.4% year-on-year to 27,201, with stopover declines and cruise passenger numbers down sharply—an issue flagged by the IMF as the economy grows more exposed to weaker tourism and Gulf aviation disruptions. Agri-Research Cooperation: ICAR and Seychelles’ Agriculture Department signed an MoU with a 2026–2031 work plan covering climate-smart farming, horticulture, post-harvest, livestock and food security. Maritime Business Link: Maritimo appointed KJM Marine as its exclusive dealer across the GCC and parts of the Middle East/Indian Ocean, including Seychelles, boosting long-range yacht sales and after-sales support. Crypto & Fraud Education: Bitget launched TradFi 101 and a new Anti-Scam Month report, focusing on how fraud is evolving across multi-asset and AI-driven markets.

India–Seychelles Deal Push: PM Narendra Modi’s Golden Jubilee visit delivered nine agreements and a $175m package, including a Made-in-India fast patrol vessel for maritime security and a plan to roll out India’s UPI in Seychelles by year-end, with officials also flagging broader talks on deeper economic partnership. Digital Payments: UPI expansion is also moving globally, with Greece going live and UPI now available in 10 countries—good news for tourism, trade and the diaspora. Maritime & Blue Economy: The visit was framed around India’s MAHASAGAR vision, focusing on ocean security, climate resilience and sustainable development, with Seychelles also conferring its top environmental honour “Guardian of the Blue Horizon” on Modi. Local Governance Watch: Back in India, Modi chaired a high-level meeting of central secretaries on deregulation and ease of doing business, echoing the push for faster execution. Business & Trade Beyond Diplomacy: Maritimo appointed KJM Marine as its exclusive dealer across the GCC and selected Middle East/Indian Ocean territories, including Seychelles—signalling continued demand for long-range luxury cruising in the region. Scam & Fraud Signals: Bitget launched its UEX Futures League and also renewed its anti-scam push, while separate reporting highlighted how crypto scams and legal threats to victims are evolving across multi-asset platforms.

India-Seychelles Deal Push: PM Narendra Modi wrapped up a three-day Seychelles state visit with nine agreements spanning digital payments, healthcare, maritime security, agriculture, space and legal cooperation, plus a $175m (₹1,250cr) line of credit and delivery of a “Made-in-India” fast patrol vessel—while also becoming the first Indian PM to address Seychelles’ National Assembly. UPI Rollout: Seychelles is set to get UPI by year-end, with officials saying live payments are the next step after the agreement—boosting tourism and trade links. Maritime & Blue Economy: Modi framed the Indian Ocean as an “ocean of opportunity” under the MAHASAGAR vision, stressing cooperation on illegal fishing, drugs and piracy. Seychelles Honour Controversy: The “Guardian of the Blue Horizon” award sparked backlash after social media users spotted spelling errors and claims of an AI-generated certificate. Governance Reforms in India: Back home, Modi chaired a meeting of central ministry secretaries focused on deregulation, ease of doing business and “ease of living” as part of Viksit Bharat 2047. Crypto & Scams Watch: Separate from Seychelles, ZachXBT alleged KuCoin sent legal threats to a theft victim, while Bitget released an anti-scam report warning fraud is evolving across multi-asset platforms.

India-Seychelles Golden Jubilee Diplomacy: PM Narendra Modi wrapped up a landmark three-day State visit, attending Seychelles’ 50th Independence Day as Guest of Honour and becoming the first Indian PM to receive the island’s top environmental distinction, “Guardian of the Blue Horizon,” while also highlighting a next-50-years agenda of innovation, sustainability and shared prosperity. Bilateral Deals & Digital Payments: India and Seychelles unveiled 19 outcomes, including a USD 175m development package and pacts spanning defence, maritime security, healthcare, agriculture, space and digital payments; Foreign Secretary Vikram Misri said UPI is targeted to be operational in Seychelles by year-end. Maritime Security Push: India announced expanded security cooperation, including the return of four military advisers and participation of Indian forces in National Day events, underscoring the Indian Ocean “ocean of opportunity” strategy. Award Controversy: Opposition figures and social media users questioned the authenticity of the award citation after spelling errors and claims of an AI-generated image watermark surfaced. Track 2 Pakistan Row: Misri also rejected reports of any official India-Pakistan “Track 2” dialogue, saying such meetings are private and carry no official value. Blue Economy Skills Link: AfDB signed an MoU with Shanghai Ocean University to boost training, scholarships and AI-enabled capacity for Africa’s aquaculture and seafood industry. Crypto Market Buzz: MEXC reported surging demand for SpaceX-series products and launched a TradFi Gala with a USDT reward pool, reflecting continued appetite for futures trading.

India-Seychelles State Visit: PM Narendra Modi wrapped up a three-day Seychelles visit, hailing “substantive outcomes” and saying the next 50 years will be shaped by innovation, sustainability and shared prosperity. Blue Economy & Maritime Security: Modi framed the Indian Ocean as a shared “ocean of opportunity,” stressing that India and Seychelles’ defence and security are “integral to each other,” with India boosting maritime cooperation and capacity. UPI Push: Foreign Secretary Vikram Misri said UPI will be operational in Seychelles by year-end, alongside a broader push for digital payments and connectivity. Development Package: India announced a USD 175 million package and unveiled 19 outcomes across defence, digital payments, healthcare, agriculture, education and climate resilience. Seychelles Honour Controversy: The “Guardian of the Blue Horizon” award given to Modi sparked backlash after spelling errors and claims of an AI-generated certificate circulated online. Diplomatic Clarification: India rejected reports of Track 2/1.5 India-Pakistan talks in Colombo, saying such engagements are private and have no official role. Local Business/Tech Note: Bitget launched its Anti-Scam Month report on multi-asset fraud trends, reflecting how scams are evolving across connected digital finance ecosystems.

Digital Payments Push: India’s Foreign Secretary Vikram Misri says UPI will be operational in Seychelles by year-end, after NPCI and the Central Bank of Seychelles signed an MoU—aimed at enabling QR-based payments for Indian tourists and merchants once live deployment begins. Bilateral Deal Flow: PM Narendra Modi’s three-day Seychelles visit wrapped up with a USD 175 million package and 19 outcomes across defence, maritime security, healthcare, space, agriculture and education, plus an extradition treaty and a ₹1,250 crore line of credit. Maritime Security Upgrade: India handed over a “Made in India” fast patrol vessel (PS LESPWAR) and additional support including ambulances and utility vehicles, while Indian naval and army contingents took part in Seychelles’ 50th National Day parade. Honour Controversy: Seychelles’ “Guardian of the Blue Horizon” award to Modi sparked backlash after social media users spotted spelling/typographical errors in the citation and seal details. Diplomatic Clarification: India rejected reports of any official India-Pakistan Track 2/1.5 dialogue in Colombo, saying such meetings are private and carry no government standing. Finance Watch: Moody’s flagged Absa’s proposed R4bn Kenya stake increase as credit positive, while noting higher exposure to East Africa risks.

India-Seychelles Finance & Payments: India and Seychelles concluded an umbrella line of credit worth Rs 1,250 crore, with rupee extension via the Export-Import Bank of India, alongside a MoU to deploy India’s UPI in Seychelles and a new extradition treaty to tackle transnational crime. Maritime Security & Defence: India handed over a fast patrol vessel (LES P W A R) plus utility vehicles and Laser Radial boats, while defence cooperation was framed under India’s MAHASAGAR vision for a safer Indian Ocean. Food, Infrastructure & Health Support: India delivered 500 metric tonnes of rice and 8,500 metric tonnes of cement, handed over six ambulances, and sent paramedics to train local technicians. Tech, Space & Skills: Outcomes included cooperation on peaceful outer space exploration, plans for AI and cyber security centres, and a virtual ground-breaking for a Professional and Technical Education Centre. Tourism & Business Angle: Seychelles Tourism Minister Amanda Bernstein said tourism and hospitality sit at the heart of the economy and are increasingly important for MICE and business travel. Aviation & Connectivity: Air Seychelles will resume direct Tel Aviv–Mahé flights on Aug 20, with Condor also planning a restart to Israel in August. Local Governance & Public Debate: Opposition leader Bernard Georges praised India’s “unity in diversity” while noting Seychelles’ political divisions, and a minor certificate spelling controversy sparked online backlash.

India–Seychelles State Visit: Seychelles President Patrick Herminie conferred PM Narendra Modi with the honorary “Guardian of the Blue Horizon”, praising his leadership in sustainability, the Blue Economy and ocean governance, while both leaders framed the Indian Ocean as a shared home for peace and prosperity. Bilateral Deals: Delegation-level talks produced 19 outcomes covering defence and maritime security, extradition, peaceful uses of outer space, digital payments via UPI, healthcare, agriculture, education, and an Exim line of credit plus steps toward a new national hospital. Maritime Security Boost: India handed over a “Made in India” fast patrol vessel (PS LESPWAR) and additional support including ambulances, utility vehicles and Laser Radial boats, with Herminie stressing renewed commitments to counter piracy, drug trafficking, illegal fishing and cross-border crime. MAHASAGAR Vision: Modi reiterated India’s “Ocean of Opportunity” push, linking security with economic growth and connectivity, including plans to expand trade and digital cooperation. Regional Connectivity: Air Tanzania said it is moving Dar es Salaam–Mumbai to daily flights and expanding its Seychelles route, citing demand from business, medical, education and tourism travellers.

India–Seychelles State Visit: PM Narendra Modi arrived in Victoria for a three-day Golden Jubilee National Day trip, received by President Patrick Herminie with a ceremonial welcome and set to address the National Assembly and meet the Indian diaspora. Maritime Security & Blue Economy: Modi handed over the “Made in India” Fast Patrol Vessel PS Lespwar to the Seychelles Coast Guard, plus 10 utility vehicles, five laser radial boats and six ambulances—aimed at boosting EEZ patrols, surveillance and disaster response. Diplomacy & Development: At a state dinner, Modi called the friendship “steady, strong and long-lasting,” while Seychelles FM Barry Faure said new deals are expected across maritime security, space cooperation, cybersecurity and mutual legal assistance, with tourism (about 30% of GDP) a key target. Environment & Tourism Spotlight: Modi visited the National Botanical Gardens, met the famed 194-year-old giant tortoise Jonathan and planted a tree, tying the gesture to greening and conservation. Political Backlash: India’s Congress criticised the visit as “masterly hypocrisy,” alleging environmental harm from India’s Great Nicobar Island project. Regional Finance: Afreximbank appointed Peter Adeshola Olowononi as Southern Africa Regional Operations Director, covering Seychelles among 13 countries.

India–Seychelles State Visit: Prime Minister Narendra Modi arrived in Seychelles for a three-day trip and Golden Jubilee National Day celebrations, with talks planned with President Patrick Herminie and a National Assembly address, as India flags maritime cooperation under “Vision MAHASAGAR.” Bilateral Deals on the Table: Seychelles Foreign Minister Barry Faure says agreements are expected across maritime security, space cooperation, cybersecurity and mutual legal assistance, alongside efforts to lift trade and tourism. Tourism Push: Faure notes tourism is about 30% of Seychelles’ GDP and expects the visit to boost the island’s global profile, with new momentum for connectivity and visitor interest. Security Focus: India’s High Commissioner Rohit Rathish highlights a stronger defence and security push, reflecting Seychelles’ strategic role in the Indian Ocean. Business Outlook: Seychelles Chamber of Commerce and Industry says the visit should strengthen trade, investment and skills partnerships, while diaspora voices point to rising exporter interest. Local Governance: The National Assembly approved the Seychelles Broadcasting Corporation Bill 2026, as amended, after its third reading. Regional Tourism Agenda: Seychelles is set to host the 69th UN Tourism CAF meeting in Victoria (2–4 July), alongside a human capital conference aimed at boosting Africa’s tourism workforce.

Seychelles–India State Visit: Prime Minister Narendra Modi will travel to Seychelles from June 27–29 as Guest of Honour for the Golden Jubilee National Day, with talks expected to deepen cooperation on maritime security, trade, digital transformation and people-to-people links. Trade & Investment Push: Seychelles Chamber of Commerce and Industry says the visit should strengthen business ties and skills partnerships, while Indian officials point to new areas such as AI, cybersecurity, marine sciences and the blue economy. Maritime Security Deliverable: India is set to hand over a patrol vessel to Seychelles during the visit, reinforcing surveillance and collective security in the Indian Ocean. Tourism & Human Capital: Seychelles will host the UN Tourism Regional Commission for Africa (2–4 July), focused on strengthening education and a skilled tourism workforce. Broadcasting Reform: The National Assembly approved the Seychelles Broadcasting Corporation Bill 2026 (as amended). Crypto Compliance Watch: Seychelles-registered CoinEx rejected claims it served as a conduit for $3.84bn in sanctioned Iranian crypto flows, as U.S. enforcement pressure on crypto sanctions continues. Energy Costs: A new regional look at June fuel prices highlights how higher gasoline costs squeeze African business competitiveness and operating margins.

India–Seychelles Golden Jubilee Diplomacy: Prime Minister Narendra Modi will visit Seychelles from June 27–29 as Guest of Honour for the 50th National Day celebrations, holding talks with President Patrick Herminie, addressing the National Assembly and meeting the Indian diaspora—moves framed by officials as a boost to maritime security, economic cooperation and digital transformation. Maritime Security Package: India is expected to hand over a patrol vessel during the visit, alongside a defence contingent and Indian Navy ships, underscoring deeper security surveillance ties in the Western Indian Ocean. Seychelles in Crypto Sanctions Spotlight: Seychelles-registered CoinEx is at the centre of a US sanctions-evasion dispute after TRM Labs and the WSJ linked more than $3.84bn in crypto flows to sanctioned Iranian entities; CoinEx denies any commercial relationship or active assistance and says it is exiting Iran-related exposure. Tourism Trade Push: The Seychelles Tourism Board wrapped a two-city Germany roadshow in Stuttgart and Munich, drawing 80 travel agents and highlighting improved air connectivity and new hotel and excursion partners. Blue Economy Funding Gap: A new report flags major shortfalls in ocean financing and argues for “blue finance” tools to close the investment gap needed for climate resilience and food security.

Crypto Compliance Clash: Seychelles-registered CoinEx denies claims it acted as a $3.84bn gateway for sanctioned Iranian crypto activity, saying it never had ties to Iranian government-linked entities and that on-chain passage doesn’t prove platform intent. Digital Asset Enforcement: The wider crackdown includes a U.S. DOJ seizure of a Huione Group cloud account tied to laundering networks, underscoring how regulators are tightening cross-border crypto controls. Diplomacy & Business Links: PM Narendra Modi will visit Seychelles from June 27–29 as Guest of Honour for the National Day Golden Jubilee, holding talks with President Patrick Herminie and addressing the National Assembly—expected to cover maritime security, economic development and digital transformation. Tourism Trade Push: Seychelles Tourism Board wraps a two-city Germany roadshow in Stuttgart and Munich, engaging 80 travel agents and partners to strengthen bookings and air-connectivity demand. SBC Bill Scrutiny: A coalition of international media freedom groups urges Seychelles to pause the SBC Bill, warning governance and funding provisions could weaken editorial independence. Blue Economy Funding: A new report highlights major ocean finance gaps, arguing sustainable blue-economy investment is still far below what’s needed for climate resilience and food security. Market Expansion in Crypto: MEXC and Bitget announce new tokenized stock and spot listings plus upgrades to copy trading and VIP programmes, reflecting continued push to blend TradFi-style products with crypto access.

Crypto & Sanctions: A Wall Street Journal investigation says Seychelles-registered exchange CoinEx helped move about $3.84bn in crypto linked to Iranian entities under sanctions, including wallets tied to Iran’s central bank and the IRGC, with TRM Labs tracing the flow through CoinEx after Binance tightened controls. Seychelles Tourism: The Seychelles Tourism Board wrapped a two-city Germany roadshow in Stuttgart and Munich, meeting 80 travel agents and partners to push new products and improved air access. Air Connectivity: Seychelles is also set for a stronger summer season as Qatar Airways, Turkish Airlines and Aeroflot restart or expand services earlier, boosting links from Europe, the Middle East, Asia and Russia. Public Broadcasting Bill: A coalition of international media freedom groups has urged Seychelles to pause the SBC Bill, warning it could weaken editorial independence through governance, appointments and funding provisions. Blue Economy Funding: A new piece argues ocean finance is badly underfunded and calls for better “blue finance” mechanisms to close the gap between pledges and real investment. Digital Finance Moves: MEXC and Bitget kept expanding tokenized-stock and spot listings, while Bitget rolled out upgrades to CFD copy trading with tighter risk controls.

Seychelles Tourism & Air Connectivity: Seychelles is set for a stronger summer season after Qatar Airways, Turkish Airlines and Aeroflot resume or expand services earlier than usual, improving links to Europe, the Middle East, Asia and Russia. SBC Bill Pushback: A coalition of international press-freedom groups has urged Seychelles to pause the SBC Bill, warning governance, appointments and funding provisions could weaken the independence the bill claims to protect. Blue Economy Funding: A new analysis says ocean investment is far behind needs, with major funding gaps for SDG 14 and calls for “blue finance” mechanisms to turn ocean promises into protection. Marine Conservation Recognition: The Marine Conservation Institute named six marine protected areas as “Blue Parks,” including three in Madagascar and one each in Senegal, Chile and Canada, highlighting durable, equitable management. Seychelles in Fisheries Policy: Cyprus’ EU presidency reported progress on the future of EU fisheries policy and cited sustainable fisheries partnership agreements with Seychelles. Business & Markets (Global): SPIEF deal values are reported to be far higher than announced totals, while Bitget rolled out upgrades to CFD copy trading risk controls and launched Stock+ for buying US stocks with USDC. Finance & Compliance (Global): A Singapore court jailed a property agent over unlicensed securities-related activity tied to an Australian housing scheme that cost investors S$16m.