India, Maldives enhance relations throughout Modi visit
(MENAFN) India and the Maldives have pledged to deepen their bilateral relationship during Indian Prime Minister Narendra Modi’s two-day visit to the island nation. On Friday, the two countries signed eight agreements, including a $565 million credit line from New Delhi aimed at supporting infrastructure projects aligned with Maldivian priorities.
Modi also announced the start of talks for a potential free trade agreement between the nations. Additionally, India’s Unified Payments Interface (UPI), a key digital payment system, will be introduced in the Maldives to enhance financial connectivity.
This marks Modi’s third visit to the Maldives and his first since President Mohamed Muizzu took office. It also represents the first visit by any head of government during Muizzu’s presidency. Tensions between the two nations had risen following Muizzu’s 2023 election victory, when he demanded the withdrawal of Indian military personnel and accused India of bullying.
Following Muizzu’s shift toward strengthening ties with China and diversifying international relations, India sought to rebuild trust. In October 2024, it extended a $400 million currency swap and rolled over $100 million in Treasury bills to support the Maldivian economy.
During his visit, Modi will also participate in celebrations marking the Maldives’ 60th year of independence, as well as the 60th anniversary of diplomatic relations between the two countries. He reaffirmed India’s commitment, saying, “India is proud to be the Maldives' most trusted friend and first responder in times of crisis.”
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