India, Maldives sign 8 pacts on economy, debt, digital ties
What's the story
Prime Minister Narendra Modi and Maldives President Mohamed Muizzu on Friday signed eight key agreements during PM Modi's visit to Male. The agreements cover a wide range of areas, including debt repayment, fisheries, digital payments, and a new Line of Credit worth ₹4,850 crore. The two leaders also reaffirmed their commitment to strengthening economic and maritime ties between the two nations.
Debt relief
India agrees to reduce Maldives's annual debt repayment obligations
As part of the agreements, India has agreed to reduce Maldives's annual debt repayment obligations on the Government of India-funded Lines of Credit. The two nations also signed an MoU for cooperation in fisheries and aquaculture. Further, they agreed on the Terms of Reference for a Free Trade Agreement (FTA) between India and the Maldives.
Digital and environmental cooperation
MoUs on meteorology, digital solutions; housing units handed over
The two countries also signed an MoU on sharing successful digital solutions for Digital Transformation. Another MoU was signed between India's Indian Institute of Tropical Meteorology (IITM) and the Maldives Meteorological Services (MMS) for cooperation in meteorology. PM Modi also handed over 3,300 social housing units to President Muizzu during his visit.
Diplomatic milestone
Modi's visit marks 60 years of Maldives's independence
PM Modi's visit to the Maldives also marks the 60th anniversary of the country's independence and India-Maldives diplomatic ties. This is his third visit to the island nation, and notably, the first by any head of state or government since Muizzu assumed office. The two leaders discussed cooperation in various fields, including development partnership, capacity building, health, infrastructure, digital economy and renewable energy during their meeting at President's Office in Male.
Official visit
PM Modi receives warm welcome in Male
PM Modi was accorded a ceremonial welcome at Republic Square in Male with President Muizzu present. He thanked President Muizzu for welcoming him at the airport and expressed confidence that India-Maldives ties will grow stronger. "Landed in Male. Deeply touched by the gesture of President Muizzu to come to the airport to welcome me," he said on X (formerly Twitter).