India and Maldives Sign Eight Major Agreements During PM Modi’s Visit

India and the Maldives signed eight important agreements on Friday during Prime Minister Narendra Modi’s visit to the island nation. The deals include cooperation in areas like debt repayment, fisheries, digital payments, and a new line of credit worth ₹4,850 crore (about $565 million).

PM Modi met with Maldivian President Mohamed Muizzu, and both leaders agreed to work closely on building stronger maritime and economic ties. As part of the agreements, India will reduce the Maldives' debt repayment load by 40%. The two countries also agreed to promote digital links, including the use of India’s UPI and RuPay systems, as well as enabling trade in local currencies.

Key developments included India offering financial help to boost development in the Maldives. Eight MoUs (Memorandums of Understanding) were signed in areas like:

• Digital payment systems
• Fisheries development
• Healthcare
• Trade talks and future Free Trade Agreement (FTA) discussions
• Debt relief and easing repayment terms

In addition to signing agreements, Prime Minister Modi and President Muizzu jointly launched several infrastructure projects. These included a newly upgraded airport, a modern defense headquarters, and the handover of over 3,300 social housing units. India also delivered medical kits and security vehicles as part of its support.

The visit highlighted India’s “Neighbourhood First” and SAGAR (Security and Growth for All in the Region) policy, with new plans for cooperation in renewable energy, climate action, and disaster risk reduction.

PM Modi said these agreements show India’s strong friendship with the Maldives and commitment to its progress. The visit also marked 60 years of Maldivian independence and diplomatic ties between the two countries.