Prime Minister Narendra Modi arrived in the Maldives on a two-day official visit and was warmly received at Velana International Airport in Malé. In the presence of PM Modi and Maldivian President Mohamed Muizzu, several Memorandums of Understanding (MoUs) were exchanged between the two nations. A major highlight of the visit is India extending a ₹4,850 crore line of credit to the Maldives under the new MoUs.
During a joint press briefing, PM Modi congratulated the Maldivian people on the country’s 60th independence anniversary and thanked President Muizzu for inviting him as the chief guest. PM Modi noted that India and the Maldives are also celebrating 60 years of diplomatic ties and highlighted the deep cultural and maritime connections between the two nations. A commemorative stamp was released depicting the traditional boats of both countries, symbolizing shared heritage and friendship.
India’s Continued Support to the Maldives
Emphasizing India’s commitment to its “Neighbourhood First” policy and the SAGAR (Security and Growth for All in the Region) vision, PM Modi said that India has consistently supported the Maldives during crises, including during the COVID-19 pandemic. India ensured the supply of essential goods and economic recovery aid at critical times.
PM Modi recalled the comprehensive economic and maritime partnership discussed during President Muizzu’s visit to India last October, stating that many of those initiatives have now turned into reality. Among the key projects progressing with India’s support are:
- Construction of 4,000 social housing units
- Greater Malé Connectivity Project
- Addu Road Development Project
- Redevelopment of Hanimaadhoo International Airport
Additionally, with the launch of a new inter-island ferry system, PM Modi said that distances between islands will soon be measured in boat time rather than GPS units.
Maldivians to Get UPI Access
Another major announcement was the signing of an agreement between the National Payments Corporation of India’s subsidiary NIPL and the Maldives Monetary Authority (MMA), enabling the use of India’s UPI (Unified Payments Interface) system by Maldivian citizens. This is expected to enhance digital financial inclusion and simplify cross-border transactions between the two countries.
