India and Maldives Strengthen Partnership with Key Agreements

During his visit, Prime Minister Narendra Modi and Maldivian President Mohamed Muizzu oversaw the signing of several agreements aimed at deepening cooperation between India and the Maldives. The agreements, coinciding with the Maldives’ 60th Independence Day celebrations, included the extension of a Line of Credit (LoC) of Rs 4,850 crore, the reduction of annual debt repayment obligations, and the launch of India-Maldives Free Trade Agreement (IMFTA) negotiations. Other key developments comprised a commemorative stamp, the handing over of social housing units, the inauguration of infrastructure projects in Addu City, and the provision of vehicles and equipment. The visit underscored India’s ‘Neighbourhood First’ policy and ‘MAHASAGAR’ vision. PM Modi highlighted India’s close ties with the Maldives and its role as a trusted friend, particularly during crises. The Maldivian President emphasized the significance of the Free Trade Agreement in fostering economic growth. In a symbolic gesture of friendship, both leaders participated in a tree-planting ceremony.