Prime Minister Narendra Modi is set to visit Maldives on July 25-26, following his visit to the UK.
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ANI
India and the Maldives are in discussions to negotiate a free trade agreement (FTA) and an investment treaty, Foreign Secretary Vikram Misri has said.
Prime Minister Narendra Modi is set to visit Maldives on July 25-26, after his travel to the UK beginning July 23. He will attend Maldives’ 60th Independence Day celebrations on July 26 as the guest of honour on the invitation of Maldives President Mohamed Muizzu.
“On the economic front, one recent development which I would like to share with you is that both countries are in discussions to negotiate a free trade agreement and an investment treaty as well. And new areas of cooperation, including renewable energy, fisheries, et cetera, are also being worked on,” Misri said at a media briefing on Tuesday.
China factor
India’s decision to work on an FTA with Maldives comes at a time when Male implemented an FTA with Beijing earlier this year.
India had shown its readiness to discuss a possible FTA with Maldives last year, after Maldivian Minister of Economic Development and Trade Mohamed Saeed was quoted in media reports saying that India had initiated efforts to create an FTA with the Maldives.
At that time, the MEA said that while India had not initiated talks on an FTA, if Maldives were to come up with a proposal, it was ready to look at it.
“On the economic front, India is one of the largest trading partners of the Maldives. Bilateral trade is nearly $500 million, .. Indian investors remain part of sectors such as tourism in the Maldives and other economic activities,” Misri said.
In terms of trade, both countries are also in talks about establishing a local currency settlement system, Misri said. As far as tourism is concerned, discussions are also underway about introducing UPI (Unified Payments Interface) in the Maldives — similar to agreements India has made with other countries, the Foreign Secretary said in reply to a question on boosting tourism. “This could provide significant convenience to tourists. And as we have always maintained, such steps can help boost the number of tourists. So, these discussions will continue, and we also intend to raise these matters during this visit,” he said.
Published on July 22, 2025