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Daily Tribune
4 days ago
- Business
- Daily Tribune
Modi renews ties with Maldives
Indian Prime Minister Narendra Modi wrapped up a visit to the Maldives yesterday, renewing ties by offering infrastructure projects and vital financial assistance to the cash-strapped Indian Ocean nation. Regional powerhouse India had been concerned that its small, yet strategically located neighbour was drifting towards the orbit of its rival China following the 2023 election of President Mohamed Muizzu on an anti-India platform. Since coming to office, Muizzu has secured the withdrawal of a small contingent of Indian military personnel who operated search-and-rescue aircraft in the archipelago. During his two-day trip, Modi also inaugurated a new defence ministry headquarters and several India-funded infrastructure projects, including roads and a 4,000-unit housing scheme. But he has since toned down his anti-India rhetoric, and on Friday he touted the two nations' collaboration on security and trade. "India has long stood as the Maldives' closest and most trusted partner," Muizzu said in a banquet speech alongside Modi, whom he met with twice last year. "We deeply value the friendship of India and are grateful for the timely assistance your country has extended to us in moments of need," Muizzu added. Shortly after his arrival on Friday, Modi unveiled a $565 million credit line for the Maldives, which is facing a severe foreign exchange shortage despite its thriving tourism industry. India also reduced annual repayments of an earlier credit line from $51 million to $29 million, and the two sides discussed a potential free-trade agreement. Muizzu said the new credit line would bolster the Maldives' security forces, and improve healthcare, housing and education. Modi's visit had set "a clear path for the future of Maldives-India relations", Muizzu wrote on X on Saturday as the Indian leader left the capital Malé after 60th Independence Day celebrations. "Our relationship continues to grow, shaped by people-to-people ties and cooperation in various sectors," Modi wrote in his own post on X. "India remains committed to supporting the aspirations of the Maldivian people." Known for its luxury tourism and pristine beaches, the Maldives is also a geopolitical hotspot, with key global shipping lanes passing through its 1,192 islands, stretching across 800 kilometres (500 miles) of the equator. China and India are the Maldives' two largest bilateral lenders.
Express Tribune
4 days ago
- Business
- Express Tribune
Indian PM Modi renews ties with Maldives
PM Carney invites Modi to G7 as guest; first Canada visit in 10 years seen as diplomatic test for the new leader. PHOTO: REUTERS Indian Prime Minister Narendra Modi wrapped up a visit to the Maldives on Saturday, renewing ties by offering infrastructure projects and vital financial assistance to the cash-strapped Indian Ocean nation. Regional powerhouse India had been concerned that its small, yet strategically located neighbour was drifting towards the orbit of its rival China following the 2023 election of President Mohamed Muizzu on an anti-India platform. Since coming to office, Muizzu has secured the withdrawal of a small contingent of Indian military personnel who operated search-and-rescue aircraft in the archipelago. But he has since toned down his anti-India rhetoric, and on Friday he touted the two nations' collaboration on security and trade. "India has long stood as the Maldives' closest and most trusted partner," Muizzu said in a banquet speech alongside Modi, whom he met with twice last year. "We deeply value the friendship of India and are grateful for the timely assistance your country has extended to us in moments of need," Muizzu added. Shortly after his arrival on Friday, Modi unveiled a $565 million credit line for the Maldives, which is facing a severe foreign exchange shortage despite its thriving tourism industry. India also reduced annual repayments of an earlier credit line from $51 million to $29 million, and the two sides discussed a potential free-trade agreement. Muizzu said the new credit line would bolster the Maldives' security forces, and improve healthcare, housing and education. During his two-day trip, Modi also inaugurated a new defence ministry headquarters and several India-funded infrastructure projects, including roads and a 4,000-unit housing scheme. Modi's visit had set "a clear path for the future of Maldives-India relations", Muizzu wrote on X on Saturday as the Indian leader left the capital Male after 60th Independence Day celebrations. "Our relationship continues to grow, shaped by people-to-people ties and cooperation in various sectors," Modi wrote in his own post on X.
Indian Express
4 days ago
- Business
- Indian Express
India-Maldives reset: As PM Modi reiterates support, Muizzu calls India a crucial partner
Marking the reset in bilateral ties between India and the Maldives, Prime Minister Narendra Modi attended the Independence Day celebrations of the island nation as the guest of honour on Saturday. As Modi left for India in the evening, President Mohamad Muizzu said it was 'a defining visit that sets a clear path for the future of Maldives-India relations'. Earlier in the day, Modi was welcomed by Muizzu at the iconic Republic Square, the venue of the ceremony at the heart of the Maldivian capital. Modi sat next to Muizzu and watched the over 50-minute event marking the 60th anniversary of the independence of the Maldives, which included a military parade and colourful cultural performances by children and traditional artistes. 'This is the first time that an Indian Prime Minister is attending the Independence Day celebrations in Maldives. Prime Minister Modi is also the first foreign leader at the level of head of state or government to be hosted by President Muizzu,' the Prime Minister's Office said in a statement. Besides the top political and military brass of the Maldives, several members of the Prime Minister's delegation including External Affairs Minister S Jaishankar, National Security Advisor Ajit Doval and Foreign Secretary Vikram Misri also attended the event. As he left for India in the evening, after winding up his two-day state visit, Modi said in a post on X: 'The productive talks with President Muizzu will add significant energy to our bilateral relations.' 'India and the Maldives share a deep-rooted partnership built on mutual respect, shared values and a long history of cultural and economic exchanges,' Modi said in another post on X. 'Our relationship continues to grow, shaped by people-to-people ties and cooperation in various sectors. India remains committed to supporting the aspirations of the Maldivian people and to working together for the betterment of our planet,' he said. Speaking to reporters after the conclusion of the Independence Day celebrations, Muizzu said: 'India is one of the major countries that helps the Maldives with tourism. With PM Modi's visit, it is going to increase a lot. I am sure that this visit will boost people-to-people exchange between the two countries.' Asked about plans to visit India this year, Muizzu said: 'I hope so. I don't know whether this year or not, but maybe in the near future.' Emphasising India's role in the development journey of the island nation, he said: 'We all have seen how India has helped the Maldives in the past, and nobody will doubt how India will be a very crucial partner going forward'. At a state banquet held in honour of Modi on Friday night, Muizzu described the Indian Ocean as a living testament to long-standing ties between the Maldives and India, saying the two nations have forged a resilient and unbreakable bond that extends far beyond diplomacy. He expressed gratitude to the Indian government for its continued support and steadfast friendship. Muizzu said the 60 years of diplomatic relations between the two countries reflected the shared history and an enduring partnership. Muizzu noted that the relationship between the two countries extends far beyond formal diplomacy, with deep-rooted connections dating back centuries, according to a statement issued by the President's Office. He referred to the Indian Ocean as a living testament to these long-standing ties, emphasising that the shared journey of both nations, as traders and neighbours, has forged a resilient and unbreakable bond. He said the Maldivian Government is committed to building an inclusive and dynamic economy, empowering young people, and ensuring peace and security in the region. Muizzu acknowledged that India's partnership is instrumental in realising these ambitions. Reaffirming the Maldives' commitment to nurturing this special relationship, he expressed a wish for a flourishing Maldives-India partnership that brings lasting peace and prosperity to both nations. Modi's visit to the Maldives is seen as a major turnaround in bilateral ties after a spell of strain and tension. It assumes significance as Muizzu, known to be close to China, came to power in the island nation in November 2023 on the back of an 'India Out' campaign. Muizzu's policies in the first few months of his presidency resulted in severe strain in ties. Within hours of taking oath, he had demanded the withdrawal of Indian military personnel from his country. Arguably, New Delhi's sustained efforts, including its assistance to the island nation to deal with economic woes, helped bring the relations back on track. On Friday, Modi held wide-ranging talks with Muizzu and announced a Rs 4,850 crore line of credit to the island nation, saying that India is proud to be the 'most trusted' friend of the Maldives. India also announced the reduction of Maldives' annual debt repayment obligations by 40 per cent (from $51 million to $29 million) and the launch of talks on a Free Trade Agreement. Earlier on Saturday, Modi met several Maldivian leaders, including Vice President Uz Hussain Mohamed Latheef, Speaker of the Maldivian Parliament Abdul Raheem Abdulla and former President Mohamed Nasheed. 'PM Narendra Modi interacted with leaders of various political parties in Male today. He conveyed his warm wishes on the occasion of the Independence Day of Maldives. Both sides reaffirmed their commitment for a stronger India-Maldives relationship, building upon the vibrant people to people ties and the shared values between the two democracies. The Maldivian leaders thanked the PM for India's continued support on developmental assistance for the welfare of the Maldivian people,' the Ministry of External Affairs' spokesperson Randhir Jaiswal said in a post on X. The visit marks a defining reset in ties that had come under strain almost 20 months ago. Arguably, New Delhi's sustained efforts, including its assistance to the island nation to deal with economic hardship, helped bring the relations back on track. 'Had a meaningful meeting with members of different political parties of the Maldives. The participation of leaders across the political spectrum underscores the bipartisan support for the strong and time-tested India-Maldives friendship. Our shared values continue to guide this important partnership,' Modi said on X. On his meeting with Latheef, Modi said: 'Our discussions touched upon key pillars of the India-Maldives friendship. Our nations continue to work closely in sectors like infrastructure, technology, climate change, energy and more. This is greatly beneficial to our people. We look forward to deepening this partnership in the years to come. On his meeting with Abdulla, Modi said: 'Talked about the deep-rooted India-Maldives friendship, including the close relationship between our respective Parliaments'. He also welcomed the formation of the India-Maldives Parliamentary Friendship Group in the 20th Majlis. 'India remains committed to supporting capacity building in the Maldives,' Modi said. On his meeting with Nasheed, Modi said: 'He (Nasheed) has always been a strong advocate of a deeper India-Maldives friendship. Spoke about how the Maldives will always be a valued pillar of our 'Neighbourhood First' policy and Mahasagar vision.' Modi also interacted with the Indian community in the Maldives and appreciated their contributions in building upon the strong and vibrant people-to-people ties between the two countries. -With PTI inputs from Male Divya A reports on travel, tourism, culture and social issues - not necessarily in that order - for The Indian Express. She's been a journalist for over a decade now, working with Khaleej Times and The Times of India, before settling down at Express. Besides writing/ editing news reports, she indulges her pen to write short stories. As Sanskriti Prabha Dutt Fellow for Excellence in Journalism, she is researching on the lives of the children of sex workers in India. ... Read More
Observer
4 days ago
- Business
- Observer
Modi renews ties with Maldives with offers of infra projects, funds
MALE: Indian Prime Minister Narendra Modi wrapped up a visit to the Maldives on Saturday, renewing ties by offering infrastructure projects and vital financial assistance to the cash-strapped Indian Ocean nation. Regional powerhouse India had been concerned that its small, yet strategically located neighbour was drifting towards the orbit of its rival China following the 2023 election of President Mohamed Muizzu on an anti-India platform. Since coming to office, Muizzu has secured the withdrawal of a small contingent of Indian military personnel who operated search-and-rescue aircraft in the archipelago. But he has since toned down his anti-India rhetoric and on Friday he touted the two nations' collaboration on security and trade. 'India has long stood as the Maldives' closest and most trusted partner', Muizzu said in a banquet speech alongside Modi, whom he met with twice last year. 'We deeply value the friendship of India and are grateful for the timely assistance your country has extended to us in moments of need', Muizzu added. Shortly after his arrival on Friday, Modi unveiled a $565 million credit line for the Maldives, which is facing a severe foreign exchange shortage despite its thriving tourism industry. India also reduced annual repayments of an earlier credit line from $51 million to $29 million and the two sides discussed a potential free-trade agreement. Muizzu said the new credit line would bolster the Maldives' security forces and improve healthcare, housing and education. During his two-day trip, Modi also inaugurated a new defence ministry headquarters and several India-funded infrastructure projects, including roads and a 4,000-unit housing scheme. Modi's visit had set 'a clear path for the future of Maldives-India relations', Muizzu wrote on X on Saturday as the Indian leader left the capital Male after 60th Independence Day celebrations. 'Our relationship continues to grow, shaped by people-to-people ties and cooperation in various sectors', Modi wrote in his own post on X. 'India remains committed to supporting the aspirations of the Maldivian people'. Known for its luxury tourism and pristine beaches, the Maldives is also a geopolitical hotspot, with key global shipping lanes passing through its 1,192 islands, stretching across 800 kilometres of the equator. China and India are the Maldives' two largest bilateral lenders. India remains apprehensive about China's growing presence in the Indian Ocean, particularly in the Maldives and neighbouring Sri Lanka. Global east-west shipping lanes pass through the nation's chain of 1,192 tiny coral islands, stretching around 800 kilometres across the equator. India's government has traditionally regarded the Maldives, along with Sri Lanka, to be within its sphere of influence. — AFP
Business Recorder
5 days ago
- Business
- Business Recorder
India's Modi renews ties with Maldives
MALÉ: Indian Prime Minister Narendra Modi wrapped up a visit to the Maldives on Saturday, renewing ties by offering infrastructure projects and vital financial assistance to the cash-strapped Indian Ocean nation. Regional powerhouse India had been concerned that its small, yet strategically located neighbour was drifting towards the orbit of its rival China following the 2023 election of President Mohamed Muizzu on an anti-India platform. Since coming to office, Muizzu has secured the withdrawal of a small contingent of Indian military personnel who operated search-and-rescue aircraft in the archipelago. But he has since toned down his anti-India rhetoric, and on Friday he touted the two nations' collaboration on security and trade. Modi announces $565-million credit line for debt-plagued Maldives 'India has long stood as the Maldives' closest and most trusted partner,' Muizzu said in a banquet speech alongside Modi, whom he met with twice last year. 'We deeply value the friendship of India and are grateful for the timely assistance your country has extended to us in moments of need,' Muizzu added. Shortly after his arrival on Friday, Modi unveiled a $565 million credit line for the Maldives, which is facing a severe foreign exchange shortage despite its thriving tourism industry. India also reduced annual repayments of an earlier credit line from $51 million to $29 million, and the two sides discussed a potential free-trade agreement. Muizzu said the new credit line would bolster the Maldives' security forces, and improve healthcare, housing and education. During his two-day trip, Modi also inaugurated a new defence ministry headquarters and several India-funded infrastructure projects, including roads and a 4,000-unit housing scheme. Modi's visit had set 'a clear path for the future of Maldives-India relations', Muizzu wrote on X on Saturday as the Indian leader left the capital Male after 60th Independence Day celebrations. 'Our relationship continues to grow, shaped by people-to-people ties and cooperation in various sectors,' Modi wrote in his own post on X. 'India remains committed to supporting the aspirations of the Maldivian people.' Known for its luxury tourism and pristine beaches, the Maldives is also a geopolitical hotspot, with key global shipping lanes passing through its 1,192 islands, stretching across 800 kilometres (500 miles) of the equator. China and India are the Maldives' two largest bilateral lenders.
