India and Seychelles have inked 2 agreements in the fields of:-

1. Security cooperation
2. Sports and Youth Affairs

Both nations inked an MOU on co-operation on training of police personnel of Sychelles.

• India also extended $50 million line of credit and $25 million grant for the Indian Ocean archipelago.

The agreements were inked in Victoria following delegation-level talks by visiting President Mrs. Pratibha Devisingh Patil and her counterpart James Alix Michel. Both the leaders expressed satisfaction at the present level of bilateral cooperation in the defence and security areas, especially in the context of combating piracy in the Indian Ocean region.
President Michel thanked India for its support in fight against piracy and said that he was looking forward the installation of new radar system which will better protect the Indian Ocean. He also thanked India for its critical support to legal, judicial and police sectors of that nation. Seychelles has constantly defended India’s candidacy for a permanent membership in an expanded UNSC.

President Ms Pratibha Devisingh Patil held that the re-entry of Seychelles as a member of the IOR-ARC (Indian Ocean Rim Association for Regional Cooperation) will further make the organization more representative and hoped Seychelles will benefit from it.

The Group of Ministers (GoM), meeting chaired by the Finance Minister Pranab Mukherjee, which reviewed the cotton exports situation has settled to allow fresh exports of cotton. It has also declared that a ban on suspension of fresh registrations be lifted. The GoM looked at the estimates of the cotton advisory board and the 3^rd estimates of the Ministry of Agriculture.

The government has withdrawn the suspension of registration of cotton exports. The Cotton Corporation of India has been assigned to build a buffer stock of 10 lakh bales to meet any emergency during the months of June, July and August 2012. The GoM would re-examine the position of the in 2-3 weeks time.