India, Maldives launch talks on FTA, sign other MoUs during PM Modi's visit
This story was originally published at 12:46 IST on 26 July 2025
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NEW DELHI - India and Maldives have launched negotiations on a free trade agreement during Prime Minister Narendra Modi's visit to the island nation, the Indian government said in a release Saturday. Representatives from the two countries, including External Affairs Minister S. Jaishankar, agreed to the terms of reference of the India-Maldives Free Trade Agreement.
India has also extended a line of credit worth INR 48.50 billion to Maldives, among several other agreements and memoranda of understanding signed between the two nations. The two sides also signed an amendatory agreement for reducing Maldives' annual debt repayment obligations on government-of-India-funded lines of credit.
NPCI International Payment Ltd., the international arm of National Payments Corp. of India, signed a network-to-network agreement with the Maldives central bank to introduce the Unified Payments Interface system in Maldives. Other agreements on ministerial cooperation between the two countries were signed on electronics and information technology, fisheries and aquaculture, and earth sciences.
During Prime Minister Modi's two-day visit to Maldives, the Indian delegation handed over and flagged off several projects. Modi also met Maldives President Mohammed Muizzu and Vice-President Hussain Mohamed Latheef during his trip. The visit comes around two years after Muizzu came to power on a slogan of "India Out", hurting diplomatic ties. End
Reported by Aaryan Khanna
Edited by Vandana Hingorani
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