India, Maldives Ink Key Deals, Agree on Free Trade Pact Terms

 


Prime Minister Narendra Modi held comprehensive talks with Maldives President Mohamed Muizzu in Malé on Friday, marking his third official visit to the island nation. The two leaders reviewed bilateral ties and reaffirmed their commitment to deepen cooperation across sectors including health, climate, digital economy, aquaculture, and maritime security.

In a major development, both nations agreed on the Terms of Reference for a future Free Trade Agreement (FTA). Several key Memorandums of Understanding (MoUs) were also signed—ranging from fisheries and digital transformation to meteorological cooperation and recognition of Indian Pharmacopoeia.

India extended a Line of Credit worth ₹4,850 crore and also eased annual debt repayment obligations for the Maldives. Notably, the two countries signed a UPI integration agreement between India’s NPCI International and Maldives Monetary Authority.

PM Modi received a ceremonial welcome in Malé and was warmly received at the airport by President Muizzu—a gesture he described as “deeply touching.” Modi will also be the Guest of Honour at the Maldives' 60th Independence Day celebrations.


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