News Desk
NEW DELHI — India and the Maldives are deepening their economic and strategic partnership, with ongoing negotiations for a free trade agreement and an investment treaty, alongside collaboration in renewable energy and fisheries, India’s foreign secretary, Vikram Misri, said on Tuesday.
Speaking at a press briefing ahead of Prime Minister Narendra Modi’s visit to the Maldives, Misri highlighted the robust economic relationship between the two nations. “On the economic front, India is one of the largest trading partners of the Maldives,” he said, noting that bilateral trade is approaching $500 million and that Indian investors are active in Maldivian sectors like tourism.
“Both countries are in discussions to negotiate a free trade agreement and an investment treaty as well, and new areas of cooperation, including renewable energy, fisheries, etc., are also being worked on.”
Beyond trade, India remains a key development partner for the Maldives, supporting infrastructure and social projects through concessional loans, grants, and capacity-building programs. Misri emphasized the transformative potential of the Greater Male’ Connectivity Project, which links four islands in the Male’ area.
“The flagship project that is underway currently is the Greater Male’ Connectivity Project, which has the potential to be an infrastructure game changer,” he said, adding that India is also supporting roads, airports, fisheries processing units, and social housing tailored to local priorities.
India’s financial assistance has been significant, including a $400 million and 30 billion rupee currency swap arrangement extended during the state visit by President Dr. Mohamed Muizzu last year.
The State Bank of India has also continued to subscribe to Maldivian treasury bills, Misri noted. “We’ve extended a considerable amount of emergency financial assistance to the Government of Maldives,” he said.
The partnership extends to defence and security, with India providing training, naval exercises, and assets for maritime surveillance. “We’ve been helping Maldives enhance its capacity for EEZ surveillance and maritime domain awareness through the provision of ships and assets,” Misri said, referencing cooperation under the Colombo Security Conclave.
The multifaceted relationship, Misri said, is driven by high-level engagement and a shared commitment to regional stability. “The relationship with the Maldives is comprehensive and multifaceted,” he said, adding that PM Modi’s visit will further strengthen ties and “contribute to peace, prosperity, and security in the Indian Ocean region.”
The Maldives is a key partner in India’s “Neighbourhood First” policy and its MAHASAGAR Vision for regional cooperation, according to the Indian Ministry of External Affairs.
PM Modi’s visit to the Maldives on July 25, at the invitation of President Muizzu, coincides with the 60th anniversary of independence, where he will be the guest of honour.
PM Modi’s state visit is the first by a head of government during President Muizzu’s presidency. This year Maldives celebrate 60 years of diplomatic relations between New Delhi and Male’, underscoring the enduring partnership.
