Strengthening Ties: India and Maldives Forge a New Economic Path

The Maldives, a key maritime neighbor of India, is a focus of India's 'Neighbourhood First' policy. India pledges support amid Maldives' financial stress with a framework to promote local currencies for cross-border trade and significant financial aid, reinforcing bilateral ties despite recent tensions.

The Maldives stands as a pivotal focal point in India's 'Neighbourhood First' policy, as External Affairs Minister S Jaishankar reaffirmed New Delhi's commitment amidst the island nation's economic challenges. The recent discussions underscore the robust India-Maldives partnership.

A significant development in the bilateral talks with Maldivian Foreign Minister Abdulla Khaleel was the finalization of a framework to bolster cross-border trade by facilitating the use of local currencies. This move is complemented by India's financial aid to Maldives, aimed at alleviating its economic difficulties.

Despite previous diplomatic tensions, the meeting emphasized strengthened ties, with a Memorandum of Understanding for developmental projects and discussions on maritime security and economic cooperation. The partnership highlights India's pivotal role in ensuring regional stability in the Indian Ocean Region.

(With inputs from agencies.)