India and Maldives Initiate Free Trade Talks: A New Chapter in Bilateral Relations

India and Maldives have commenced discussions on a free trade agreement, with PM Modi and President Muizzu emphasizing stronger economic ties. The leaders discussed the possibility of a new consulate in Bengaluru and launched the RuPay card in Maldives. The visit underscores India's commitment to its neighbor.

India and the Maldives have embarked on discussions for a free trade agreement aimed at bolstering bilateral economic ties. This move was announced by Indian Prime Minister Narendra Modi and Maldivian President Mohamed Muizzu during a media address after talks in New Delhi. However, details of the agreement remain under wraps.

Prime Minister Modi shared that the dialogue on a free trade agreement is part of a broader strategy to enhance economic cooperation with the Maldives. Complementing this initiative, the RuPay card was launched in the Maldives, and future plans include integrating the Maldives into India's UPI system to ensure international benefits from Indian financial technology.

The leaders also explored the establishment of a Maldivian consulate in Bengaluru, reflecting the deepening ties between the nations. President Muizzu expressed gratitude to India for its continual support and expressed eagerness to finalize the trade agreement to maximize economic collaboration and Indian investment in key Maldivian sectors.

(With inputs from agencies.)