A new chapter in Maldives–India relations unfolded in Malé as President of the Republic of Maldives, His Excellency Dr Mohamed Muizzu, and Prime Minister of the Republic of India, His Excellency Shri Narendra Modi, jointly witnessed the formal exchange of multiple high-level Memoranda of Understanding (MoUs) and agreements aimed at strengthening cooperation across trade, health, fisheries, environment, technology, and finance.
The signing ceremony took place at the President’s Office on July 25, 2025, as part of Prime Minister Modi’s official two-day state visit to the Maldives. Senior ministers and officials from both governments were present, reflecting the mutual commitment to reinforcing one of the Indian Ocean region’s most enduring bilateral partnerships.
Among the key developments was the launch of negotiations for a Free Trade Agreement (FTA) between the Maldives and India, which the Maldivian Ministry of Economic Development and Trade described as a transformative step toward enhancing bilateral commerce. The agreement was signed by Maldivian Minister Mohamed Saeed and India’s Minister of External Affairs Dr S. Jaishankar. According to the Ministry, the FTA aims to create a structured administrative framework that will reduce trade barriers, attract investments, and foster greater economic integration. The agreement is expected to enhance cross-border trade efficiency, encourage private sector growth, and enable smoother business transactions between the two countries. It will also support seamless payments for Indian tourists visiting the Maldives and Maldivian citizens residing in India, particularly through mechanisms such as India’s Unified Payments Interface (UPI) and the development of a local currency settlement framework.
In support of these initiatives, a USD 565 million umbrella Line of Credit Agreement was signed between the Government of the Maldives and the Export-Import Bank of India, alongside a First Amendatory Dollar Credit Line Agreement. These financial instruments are designed to support large-scale development projects across infrastructure, energy, and socio-economic sectors.
Another key agreement includes an MoU between the Maldives Monetary Authority (MMA) and NPCI International Payments Limited (NIPL), allowing for network-to-network cross-border remittances. This initiative is expected to enhance financial inclusion, streamline transactions, and benefit both Maldivians living in India and Indian expatriates in the Maldives.
In the healthcare sector, a landmark MoU on Pharmacopoeia cooperation was signed between the Indian Pharmacopoeia Commission and the Maldives Food and Drug Authority. This agreement formally designates the Indian Pharmacopoeia as the reference framework for pharmaceutical regulation in the Maldives. It facilitates the direct acceptance of Indian manufacturers’ Certificates of Analysis (CoA), eliminates redundant testing, and accelerates regulatory processes—measures expected to lower costs and ensure faster access to essential medications.
Officials at the Maldivian Ministry of Health highlighted the practical impact of this cooperation, including access to high-quality analytical resources at reduced prices and strengthened domestic pharmaceutical oversight. The ministry emphasized that this collaboration will support the growth of local pharmaceutical production, especially in the generic drug segment, and contribute to improved public health outcomes.
In the area of fisheries and aquaculture, an MoU was signed between the Maldivian Ministry of Fisheries and Ocean Resources and India’s Ministry of Fisheries, Animal Husbandry and Dairying. The agreement promotes sustainable tuna fisheries, joint aquaculture development, environmentally conscious fisheries-tourism, and collaborative research and innovation. It also facilitates private sector engagement in mariculture, supports training and capacity-building, and opens new avenues for investment in the blue economy. The Ministry of Fisheries and Ocean Resources expressed confidence that this agreement will contribute to the sustainable management of marine resources while enhancing food security and economic diversification.
Furthering environmental and climate science collaboration, another MoU was signed between the Indian Institute of Tropical Meteorology and the Maldives Meteorological Services, covering joint initiatives in meteorology, atmospheric and climate sciences, and environmental monitoring. This partnership is expected to support climate resilience and weather prediction capabilities in the Maldives, aligning with national priorities on sustainable development and environmental protection.
Additionally, a technology cooperation agreement was signed between the Ministry of Homeland Security and Technology of the Maldives and India’s Ministry of Electronics and Information Technology. This MoU will allow the Maldives to access and adapt digital governance solutions successfully implemented at scale in India, thereby accelerating the country’s digital transformation journey.
President Dr Mohamed Muizzu and Prime Minister Narendra Modi underscored the mutual benefits of these initiatives and reaffirmed their governments’ commitment to deepening cooperation across key areas that directly impact people’s lives and national development. The comprehensive scope of the agreements reflects a strategic shift toward integrated regional progress rooted in shared values, innovation, and long-term stability.
The ceremony concluded with Prime Minister Modi signing the official guest book at the President’s Office, a symbolic gesture reaffirming the enduring diplomatic bond between the two nations.
As the Maldives continues to develop its infrastructure, health systems, blue economy, and digital services, India’s partnership remains central to achieving these objectives. The exchange of these wide-ranging agreements marks a substantial advance in bilateral cooperation, building on six decades of formal diplomatic relations and shaping a future of mutual prosperity.
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