Prime Minister Narendra Modi announced a Rs 4,850 crore line of credit to the Maldives, coupled with the initiation of free trade agreement (FTA) discussions.
The announcement came during PM Modi’s visit to attend the 60th Independence Day celebrations of the island nation, hosted at Republic Square with ceremonial grandeur, including a 21-gun salute and cultural performances.
Following his meeting with President Mohamed Muizzu, PM Modi underscored the importance of deepening economic and energy cooperation. “We have decided to promote renewable energy. India will share its experience in this sector with Maldives,” he stated during the joint appearance.
The visit not only spotlighted regional diplomacy but also reinforced India’s role as a development partner. The Ministry of External Affairs emphasized that this step exemplifies the evolving strategic and economic collaboration between the two nations.
With the launch of FTA talks, the Indian government aims to create a more seamless trade environment in the Indian Ocean region. The pact could open new doors for trade in tourism, fisheries, and renewable energy technologies, while fortifying maritime partnerships.
As both countries align on shared goals of development and sustainability, today’s agreement serves as a cornerstone for future cooperation and mutual growth.
