Prime Minister Narendra Modi and Maldives President Mohamed Muizzu held bilateral discussions at Hyderabad House here on Monday. The meeting between the two leaders was aimed at further strengthening the relationship between the neighboring nations. They also conducted delegation-level talks, addressing key issues of mutual interest, including economic cooperation, security collaboration, and climate change.
The two leaders also virtually inaugurated the runway at Hanimaadhoo International Airport in the Maldives, a development supported by India.
In a notable step to enhance financial integration, the RuPay card payment system was introduced in the Maldives, and the two leaders witnessed the first transaction made through the system, marking a new chapter in digital connectivity between the nations.
In a joint statement, Modi warmly welcomed the visiting President and his delegation, underscoring the deep-rooted ties between the two countries. “First of all, I extend a hearty welcome to President Muizzu and his delegation. India and Maldives relations are centuries old. India is Maldives’ nearest neighbour and close friend. Maldives holds an important position in our neighbourhood policy and SAGAR vision. India has always played the role of first responder for Maldives…India has always fulfilled the responsibilities of a neighbour,” Modi said.
The Prime Minister highlighted the importance of economic collaboration and emphasized the strategic direction of their partnership, saying “Today, we have taken up the vision of a comprehensive economic and maritime security partnership to give our mutual cooperation a strategic direction.” He also stressed that development cooperation has been an important pillar of India-Maldives partnership.
“Development partnership is an important pillar of our (India-Maldives) relations. We have always given preference to the priorities of the people of Maldives. This year, SBI did a rollover of 100 million dollars of the Treasury Bench of Maldives. As per the needs of Maldives, a 400 million dollars and Rs 3000 Crores currency swap agreement was also signed,” he stated.
Referring to India’s role in housing development in the Maldives, the PM stated, “Today, more than 700 social housing units built with India’s cooperation have been handed over (to Maldives)…To strengthen economic relations, we have decided to initiate discussion on Free Trade Agreement.”
Referring to the launch of RuPay card payment system, Modi said, India and Maldives will be connected through UPI in the time to come. “A few days back, RuPay card was launched in Maldives. In the time to come, India and Maldives will be connected through UPI,” he said.
Security cooperation between the two nations was another focal point of the talks, with Modi assuring India’s continued support in this area. “We also held a detailed discussion on different aspects of security cooperation. Work is being done rapidly in Ekatha Harbour project. We will continue our cooperation towards training and capacity building of Maldives National Defence Forces. For stability and prosperity in Indian Ocean Region, we will work together,” the PM said.
Addressing the global challenge of climate change, the PM reiterated India’s commitment to assist the Maldives in its efforts toward sustainable energy solutions. “Climate change is a huge challenge for both of our countries. In this regard, India is ready to share its experiences with Maldives regarding solar and energy efficiency.”