Bilateral trade between India and the Maldives has surged more than threefold in the last seven years, increasing from $223 million in 2017–18 to $680 million in 2024–25, according to official data.
India’s exports to the Maldives climbed from $217 million in FY 2017–18 to $561 million in FY 2024–25.
Imports from the island nation also jumped significantly, expanding from $6 million to $119 million during the same period.
PM Modi Announces Line of Credit and FTA Talks
PM Narendra Modi reinforced trade and economic ties during his recent visit to the Maldives. He announced a ₹4,850 crore line of credit to support development projects in the country.
India and the Maldives have also begun discussions on a Free Trade Agreement (FTA), which is expected to further boost bilateral trade.
India has committed to promoting renewable energy projects in the Maldives and sharing its expertise in the sector.
This collaboration aligns with both countries’ efforts to address climate change and enhance sustainable growth.
PM Modi visited the Maldives last month at the invitation of President Mohamed Muizzu, attending the country’s 60th Independence Day celebrations as the Guest of Honour.
The visit marked a turnaround in bilateral relations, as Muizzu, previously critical of India and closer to China during his opposition years, has now strengthened engagement with New Delhi.
The Maldives remains a key maritime partner for India in the Indian Ocean Region.
Under New Delhi’s Neighbourhood First policy and the MAHASAGAR vision, India views the Maldives not as a peripheral state but as a frontline partner in maritime security, climate action, and safeguarding critical sea lanes.
Also Read: PM Modi Inaugurates UER-II & Dwarka Expressway; Boosts Connectivity In Delhi-NCR
To read more such news, download Bharat Express news apps
