India, Maldives sign 8 major pacts across finance, digital, fisheries sectors

India and the Maldives on Friday exchanged eight key agreements covering a wide range of sectors including Line of Credit debt repayment fisheries digital transformation and Unified Payments Interface UPI in the presence of Prime Minister Narendra Modi and Maldivian President Mohamed MuizzuDelighted to exchange eight Agreements related to Line of Credit debt repayment FTA fisheries amp aquaculture digital transformation pharmacopoeia and UPI in the presence of PM narendramodi and President MMuizzu today in Male External Affairs Minister S Jaishankar posted on XConfirming the development the Presidents Office of the Maldives stated President witnesses exchange of key MoUs and agreements between the Maldives and IndiaDelighted to exchange eight Agreements related to Line of Credit debt repayment FTA fisheries amp aquaculture digital transformation pharmacopoeia and UPI in the presence of PM narendramodi and President MMuizzu today in Male httpstcou2aMwyXeAv pictwittercomWO10Aal4IHmdash Dr S Jaishankar DrSJaishankar July 25 2025The exchange of agreements set the tone for highlevel discussions that followed as Prime Minister Narendra Modi and President Mohamed Muizzu took stock of the implementation of the IndiaMaldives Joint Vision for a Comprehensive Economic and Maritime Security Partnership with the Prime Minister reiterating Indias commitment to deepening bilateral ties under its Neighbourhood First and Vision MAHASAGAR policies PM Modi who is on a twoday visit to Maldives met President Muizzu at the Presidents Office in MalePresident Muizzu appreciated Indias commitment of being the First Responder for Maldives when it came to dealing with any crises The two leaders discussed cooperation in the fields of development partnership infrastructure support capacity building climate action and health They also called for further strengthening defence and maritime security cooperation and in this regard noted the collaboration between the two countries under the Colombo Security ConclaveThe two leaders also reviewed the economic partnership between the two countries Prime Minister underscored that the proposed Free Trade Agreement and the Bilateral Investment Treaty would open new opportunities for both sidesPresident witnesses exchange of Key MoUs and agreements between the Maldives and IndiahttpstcoODqtMYU6WVMaldivesIndia pictwittercomooREX1n1c1mdash The Presidents Office presidencymv July 25 2025Noting that the two countries must take advantage of the digital economy especially to promote tourism he welcomed the recent understandings on UPI adoption acceptance of RUPAY card and trade in local currencies The two leaders highlighted that the close development partnership between the countries was adding new value to the already strong peopletopeople tiesThe two leaders noted that as Global South partners they would continue to work on issues such as climate change promotion of renewable energy disaster risk reduction and weather science in the interests of the planet and its peoplePrime Minister thanked President Muizzu for his strong condemnation of the Pahalgam terror attack and the solidarity extended to India in the fight against terrorismThe two leaders witnessed exchange of six MOUs in the fields of fisheries and aquaculture meteorology digital public infrastructure UPI Indian pharmacopoeia and concessional Line of CreditThe new Line of Credit offers Rupees 4850 crores approx USD 550 million in support of infrastructure development and other activities in Maldives An Amendatory Agreement for the existing LoCs was also exchanged It reduces Maldivess annual debt repayment obligations by 4037 from USD 51 million to 29 million Both sides also exchanged Terms of Reference of the proposed Free Trade AgreementThe two leaders also virtually inaugurated a roads and drainage system project in Addu city and six High Impact Community Development Projects in other cities Prime Minister handed over 3300 social housing units and 72 vehicles for Maldives National Defence Force and Immigration authoritiesPrime Minister also handed over two units of Aarogya Maitri Health Cube BHISHM sets to the Government of Maldives With stateoftheart medical equipment as part of the cube it can provide medical aid to 200 casualties with inbuilt support to sustain a crew of six medical personnel for up to 72 hoursIn keeping with their deep commitment to conserving nature the two leaders planted mango saplings as part of Indias Ek Pedh Maa Ke Naam Plant for Mother and Maldivess Pledge of 5 million Tree Plantation campaignsPrime Minister reiterated Indias commitment to support Maldives and its people as per its requirements and priorities and for the peace progress and prosperity of the Indian Ocean regionAhead of the meeting Prime Minister was received by President Muizzu and accorded a ceremonial welcome at Republic Square The meeting was marked by warmth and a reaffirmation of the deeprooted friendship between the two nationsPrime Minister expressed heartfelt appreciation for the gracious hospitality extended to him and his delegation and conveyed his best wishes on the historic occasion of the 60th anniversary of the independence of Maldives as also on the special occasion of the 60th anniversary of establishment of diplomatic relations between the two nationsThe two leaders reflected on the deep bonds of friendship and trust that have been built over centuries strengthened by strong peopletopeople tiesThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever