Prime Minister Narendra Modi and President Danny Faure on Monday witnessed signing of 6 MoUs between India and Seychelles.
India, Seychelles committed to maintaining peace and stability in Indian Ocean region: PM Modi said after talks with Seychelles President.
"India announces USD 100 million credit to Seychelles for augmenting its maritime defence capability," he said."
With this credit, Seychelles will be able to buy defence equipment to boost its maritime capacity," Prime Minister Modi said in his joint media statement with Faure.
On the project to develop a naval facility at the island, which would give India a strategic advantage in the Indian Ocean Region, Modi said, "We have agreed to work together on the Assumption Island project based on each other's rights."
Faure, in his remarks, said the Assumption Island project was discussed and the two countries equally engaged to work together bearing each other's interests.
Earlier in the day, Faure, who is on a six-day State visit to India, received a ceremonial reception by President Ram Nath Kovind and Prime Minister Narendra Modi on his arrival at the Rashtrapati Bhawan.
"I am in a great country. The relationship between India and Seychelles is excellent. My presence here is to take this relationship to newer heights," said President of the Republic of Seychelles.
Faure also visited Rajghat to pay tributes to Mahatma Gandhi.