On Friday, India and Maldives have exchanged eight key agreements involving a wide range of industries, including credit loan, debt repayment, fishing, digital transformation and a uniform interface of payments (UPI), in the presence of Narendra Modi and Maldiv President Mohammad Muizza.
Also Read: Maldives “Muizza calls India” closest, the best ally “, PM modi stress” friendship first “: the highest points
Visiting Modi signals significant improvement in India-Maldives after voltage period. He also revealed that both nations were proceeding forward with negotiations on a bilateral investment agreement and have already launched interviews on free trade agreement.
Here are the five best updates:
1. Prime Minister Narendra Modi stressed that the new Delhi is proud to be the “most trusted” friend of the Indian Ocean archipelago. “It’s always the first friendship for us,” Modi said in his statement of the media media, adding that “the roots of our relationships are older than history and as deep as the ocean.” The Maldives hold an important place in Indian policy “first neighborhood” and Mahasagar (mutual and holistic progress for security and growth across regions), said the Prime Minister, as stated by PTI.
2. Prime Minister Narendra Modi announced on Friday that India is proud to be the most trusted friend of Maldives, after the announcement and £4 850 credit crore to support island nation. Both leaders witnessed the exchange of six mous in fishing and aquaculture, meteorology, digital public infrastructure, UPI, Indian pharmacopoeia and preferential credit lines.
3. The new credit line offers Rupei 4850 Crores (approximately $ 550 million) to support infrastructure development and other Maldives. A journalistic agreement on existing LOC was also replaced. It reduces annual debt repayment obligations in the Maldives by 40% (from $ 51 million to $ 29 million). Both parties also exchanged the conditions of the reference to the proposed free trade agreement.
4. Both leaders also practically inaugurate the project of roads and drainage system in Add City and six high impacts on development projects in other cities. The Prime Minister handed over 3,300 units of social housing and 72 vehicles for the Maldives of National Defense Forces and Immigration Authorities.
5. The Prime Minister also handed over two Aarogya Maitri Health Cube (Bhishm) units to the Maldiva government. With state -of -the -art medical equipment as a part of the cube, he can provide medical assistance with 200 victims with built -in support to maintain a crew of six medical staff for up to 72 hours.
The recent improvement in India-Maldives is particularly remarkable due to the initial tensions under Maldiv President Muhammad Muizza, who joined the office in November 2023 after led the “India out” platform and is considered close links to China.
The tension quickly escalated after the inauguration of musical when it demanded the withdrawal of Indian military staff from the Maldives. In response, India replaced its military presence with civilian staff to alleviate diplomatic friction.
Maldives remain one of the key Indian naval partners in the Indian Ocean region and bilateral ties in defense and security significantly strengthened under the previous Maldivian administrations.
(With the entry from agencies)
(Tagstotranslate) Prime Minister Narendra Modi (T) Maldives of the Credit Line (T) India-Maldives Relations (T) Digital Transformation (T) Fishing and Aquaculture
