India and the Maldives are currently engaged in discussions to establish a Free Trade Agreement (FTA) and an investment treaty, according to Foreign Secretary Vikram Misri. The aim is to enhance economic ties between the two nations, with new collaborations planned in areas like renewable energy and fisheries. Misri highlighted India’s significant role as a trading partner, with bilateral trade reaching approximately USD 500 million, and Indian investments already present in the Maldivian tourism sector. The Greater Male Connectivity Project, a major infrastructure initiative, is also underway, alongside projects in roads, airports, and social housing. Furthermore, India provides financial assistance to the Maldives, including currency swap arrangements and support through the State Bank of India. The relationship also extends to capacity-building, defense and security, and is viewed as comprehensive and multifaceted, focused on promoting peace, prosperity, and security in the Indian Ocean region. Prime Minister Narendra Modi is scheduled to visit the Maldives in July, marking the 60th anniversary of diplomatic ties.
