India inks pact with Maldives for extending Rs 4,850 crore Line of Credit; FTA talks started: PM Modi
line of credit
to the Maldives, after
bilateral meetings
between the two countries.
Additionally, PM Modi announced that discussions for the
free trade agreement
have also started between the two nations.
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"We have decided to promote renewable energy. India will share its experience in this sector with Maldives. I would like to congratulate you all on this historic event and thank you for the warm welcome," said PM Modi.
PM Modi is visiting Maldives at the invitation of President Muizzu and will attend the country's 60th Independence Day celebrations as the Guest of Honour.
The two leaders met at Republic Square following the ceremonial welcome, which included a 21-gun salute, Guard of Honour by the Maldives National Defence Force (MNDF), and a cultural dance performance by children. The national anthems of both countries were also played during the reception.
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Ministry of External Affairs Spokesperson Randhir Jaiswal said that said the visit marks 60 years of diplomatic ties between India and the Maldives.
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Muizzu, who came to power in 2023 amid calls to reduce India's footprint, struck a very positive tone throughout the visit. 'India has long stood as the Maldives' closest and most trusted partner,' he said. 'Our collaboration spans a wide range of areas, from security and trade to healthcare, education, and beyond touching the everyday lives of our citizens… In pursuing our national goals, India's partnership remains invaluable.' In a significant move, Modi held a 'meaningful' interaction with leaders from various Maldivian political parties. 'The participation of leaders across the political spectrum underscores the bipartisan support for the strong and time-tested India-Maldives friendship,' he said. The Prime Minister also met former President Mohamed Nasheed and engaged with the Indian community, saying, 'The Indian diaspora continues to be one of the strongest bridges between India and the world. We are very proud of our diaspora.' The visit also saw Modi meet with Vice President Uz Hussain Mohamed Latheef, who said it was 'an honour' to call on the Indian Prime Minister. 'As this year marks 60 years of formal diplomatic relations with India, the Prime Minister and I reflected on the journey of friendship and reciprocal support our countries have undertaken. I hope that the strong cooperation with India continues to grow and strengthen,' Latheef said. Modi also met Speaker of the People's Majlis Abdul Raheem Abdulla and welcomed the formation of the India-Maldives Parliamentary Friendship Group. 'India remains committed to supporting capacity building in the Maldives,' he said.
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