Particle.news

Download on the App Store

Modi Becomes First Indian PM to Attend Maldives’ Independence Day, Launches ₹4,850 Crore Credit Line

It marks a full diplomatic reset with fresh credit terms and free trade negotiations aimed at deepening economic and security ties.

Prime Minister Narendra Modi with Maldives President Mohamed Muizzu (Image: X)
Image
Image
Image

Overview

  • Modi sat beside President Muizzu at Republic Square during the Maldives’ 60th Independence Day parade and cultural performances, marking the first attendance by an Indian prime minister.
  • New Delhi extended a ₹4,850 crore line of credit to the Maldives and agreed to reduce its annual debt repayments by 40%, from $51 million to $29 million.
  • India and the Maldives officially launched negotiations for a Free Trade Agreement to boost bilateral trade and investment.
  • The two governments signed six memorandums of understanding covering fisheries and aquaculture, meteorology, digital public infrastructure integration, Indian pharmacopoeia standards and concessional credit.
  • Modi held meetings with leaders across the Maldivian political spectrum—including former President Nasheed, Speaker Abdulla and Vice President Latheef—securing bipartisan backing for the renewed partnership.