India–Maldives Ties: 8 key pacts inked in PM Modi-Muizzu meet; UPI, debt relief, fisheries, FTA on table | India News
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India–Maldives Ties: 8 key pacts inked in PM Modi-Muizzu meet; UPI, debt relief, fisheries, FTA on table
India and the Maldives exchanged eight important agreements covering debt repayment, fisheries, digital payments, and a new Line of Credit worth Rs 4,850 crore, during PM Narendra Modi’s visit to Malé. Both sides reaffirmed their commitment to a stronger economic and maritime partnership.
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In the presence of PM Modi and Maldivian President Mohamed Muizzu, both sides reaffirmed their commitment to a stronger economic and maritime partnership. India agreed to ease Maldives’ loan repayment burden by 40%, and push digital ties through UPI, RuPay and local currency trade.
PM Modi also handed over 3,300 social housing units, vehicles for security forces, and medical aid kits. He and President Muizzu jointly inaugurated infrastructure projects and pledged cooperation on climate, disaster risk, and renewable energy.
The visit also marked 60 years of Maldives’ independence and India-Maldives diplomatic ties. PM Modi called the agreements a reflection of India’s “Neighbourhood First” approach and long-standing friendship with the island nation.