Prime Minister Narendra Modi is about to go to Maldives on July 25-26, following his go to to the UK.
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ANI
India and the Maldives are in discussions to barter a free commerce settlement (FTA) and an funding treaty, International Secretary Vikram Misri has mentioned.
Prime Minister Narendra Modi is about to go to Maldives on July 25-26, after his journey to the UK starting July 23. He’ll attend Maldives’ sixtieth Independence Day celebrations on July 26 because the visitor of honour on the invitation of Maldives President Mohamed Muizzu.
“On the financial entrance, one latest growth which I want to share with you is that each international locations are in discussions to barter a free commerce settlement and an funding treaty as nicely. And new areas of cooperation, together with renewable vitality, fisheries, et cetera, are additionally being labored on,” Misri mentioned at a media briefing on Tuesday.
China issue
India’s choice to work on an FTA with Maldives comes at a time when Male carried out an FTA with Beijing earlier this yr.
India had proven its readiness to debate a doable FTA with Maldives final yr, after Maldivian Minister of Financial Improvement and Commerce Mohamed Saeed was quoted in media stories saying that India had initiated efforts to create an FTA with the Maldives.
At the moment, the MEA mentioned that whereas India had not initiated talks on an FTA, if Maldives have been to provide you with a proposal, it was prepared to take a look at it.
“On the financial entrance, India is likely one of the largest buying and selling companions of the Maldives. Bilateral commerce is almost $500 million, .. Indian traders stay a part of sectors equivalent to tourism within the Maldives and different financial actions,” Misri mentioned.
When it comes to commerce, each international locations are additionally in talks about establishing an area forex settlement system, Misri mentioned. So far as tourism is worried, discussions are additionally underway about introducing UPI (Unified Funds Interface) within the Maldives — much like agreements India has made with different international locations, the International Secretary mentioned in reply to a query on boosting tourism. “This might present important comfort to vacationers. And as we have now at all times maintained, such steps might help increase the variety of vacationers. So, these discussions will proceed, and we additionally intend to lift these issues throughout this go to,” he mentioned.
Printed on July 22, 2025