India and Maldives Strengthen Ties with Virtual Inaugurations and Key Agreements

New Delhi, India – In a virtual ceremony that underscored the growing partnership between the two nations, President Dr. Mohamed Muizzu and Indian Prime Minister Narendra Modi oversaw the exchange of key agreements, memorandums of understanding (MoUs), and Note Verbale, marking significant developments in their bilateral relationship. The event, which took place during President Muizzu’s state visit, highlighted a shared vision for a comprehensive economic and maritime security partnership.

One of the major announcements was the refitting of the Huravee Coast Guard ship, a gesture of support from India, provided on a gratis basis. The ceremony also included several virtual inaugurations, reflecting the ongoing collaboration between the two nations in critical sectors.

Among the highlights was the official launch of the RuPay card in the Maldives, via a video presentation, aimed at simplifying transactions for Indian tourists. Additionally, the newly constructed runway at Hanimaadhoo International Airport was inaugurated, further enhancing the Maldives’ connectivity and its appeal as a major travel hub in the Indian Ocean. In another significant step, 700 social housing units, built under the EXIM Bank of India’s Buyers Credit facility, were handed over to the Maldivian government.

Key Agreements and MoUs

The ceremony also saw the exchange of several agreements and MoUs, strengthening cooperation across multiple sectors:

1. Currency Swap Agreement: A deal between the Maldives Monetary Authority and the Reserve Bank of India was exchanged by Ahmed Munawar, Governor of the Maldives Monetary Authority, and Ajay Seth, Secretary, Department of Economic Affairs, Ministry of Finance, India. This agreement aims to ease the Maldives’ financial strain and enhance bilateral trade.
2. Law Enforcement Cooperation: An MoU for cooperation between the Maldives’ National College of Policing and Law Enforcement and India’s Rashtriya Raksha University was exchanged, focusing on capacity building and professional training.
3. Anti-Corruption Collaboration: Another significant MoU was signed between the Maldives Anti-Corruption Commission and India’s Central Bureau of Investigation, enhancing efforts to prevent and combat corruption in both countries.
4. Judicial Training and Capacity Building: The Memorandum of Understanding between the Judicial Services Commission of the Maldives and India’s National Judicial Academy was extended, emphasizing continued cooperation on training Maldivian judicial officers.
5. Sports and Youth Cooperation: An extension of the MoU between the Maldives and India in the field of sports and youth affairs further cemented the growing social and cultural ties between the nations.

The ceremony reinforced the commitment of both countries to a future-oriented partnership. President Muizzu expressed his gratitude for India’s steadfast support, acknowledging that these agreements symbolize deeper cooperation in sectors crucial to the Maldives’ economic resilience and development. Prime Minister Modi echoed this sentiment, reaffirming India’s commitment to its ‘Neighbourhood First’ policy, with the Maldives at its center.

The virtual event concluded with optimism for the future, as both leaders emphasized the need to swiftly implement the agreements to benefit the people of both nations.