Prime Minister Narendra Modi on Monday reaffirmed the Maldives pivotal role in India’s Neighbourhood First policy and SAGAR (Security and Growth for All in the Region) vision during a meeting with Maldivian President Mohamed Muizzu. Both the leaders discussed deepening bilateral ties after a period of strained relations between the nations.
Narendra Modi said that India and Maldives relations are centuries old. He added that India is Maldives’ nearest neighbour and close friend. He further asserted that Maldives holds an important position in India’s neighbourhood policy and SAGAR vision. India has always played the role of first responder for Maldives, he mentioned.
Maldives president Muizzu, who arrived in New Delhi on Sunday, is on his first state visit to India since assuming office last November. President Mizzu’s visit comes amid efforts to mend relations while navigating an ailing economy back home.
Ties between India and the Maldives have been fraught ever since Muizzu won the presidency on an India Out campaign and directed the eviction of Indian troops from the island nation. Recently, he has toned down his anti-India rhetoric, but New Delhi remains wary of his pro-China leanings.
Despite these aforesaid challenges, both leaders expressed a commitment to enhancing their relationship. Prime Minister Modi stressed on India’s role in supporting the Maldives during times of crisis. The Prime Minister stated that both countries have adopted a shared vision of a comprehensive economic and maritime security partnership.
He added that development partnership is an important pillar of India-Maldives relations. He added that INdia has always given preference to the priorities of the people of Maldives.
Furthermore, the Prime Minister also announced India’s decision to provide critical financial assistance to the Maldives to help it recover from an ongoing economic downturn.
He said that this year, SBI did a rollover of 100 million dollars of the Treasury Bench of Maldives. According to the needs of Maldives, a 400 million dollars and Rs 3000 crores currency swap agreement was also signed.
Notably, the economic cooperation extends to infrastructure development as well. PM Modi and Muizzu virtually inaugurated the redeveloped Hanimaadhoo International Airport, a project supported by India. Other agreements include Introduction of Rupay card in Maldives by India, both the nations discuss opening of Indian consulate in Addu, and Maldivian consulate in Bengaluru, India hands over 700 social housing units built with its support to Maldives.
In addition, India will roll over a $50 million Treasury Bill for another year to provide essential budgetary relief to the Maldivian government. India and Maldives are also set to start talks on a Free Trade Agreement.
Maldives President Muizzu extended gratitude to PM Modi for the financial support and acknowledged that India has always stood by the island nation in its time of need. He further invited PM Modi to visit the Maldives. He announced a new comprehensive vision document that will include development, maritime security, trade partnerships, energy projects, health.