'India And Maldives To Soon Connect With UPI': PM Modi Explores Free Trade Agreement With Muizzu

Prime Minister Narendra Modi emphasised Maldives' importance in India's 'Neighbourhood First' policy and SAGAR vision after meeting Maldivian President Mohamed Muizzu in New Delhi on Monday (7 October).

"India has always played the role of first responder for Maldives," PM Modi said referring to helping Maldives with essential commodities, drinking water during natural disasters and vaccines during COVID-19.

Calling development partnership an important pillar in India-Maldives relations, Modi said, "This year, SBI (State Bank of India) did a rollover of 100 million dollars of the Treasury Bench of Maldives."

"As per the needs of the Maldives, a 400 million dollars and Rs 3,000 crores currency swap agreement was also signed. We have talked about comprehensive support for infrastructure development in Maldives," he added.

"Today, more than 700 social housing units built with India's cooperation have been handed over (to Maldives). To strengthen economic relations, we have decided to initiate discussion on Free Trade Agreement," Modi said.

Recalling the launch of RuPay cards in Maldives, the PM said that soon work will begin on connecting India and Maldives with UPI. Both leaders also held a detailed discussion on different aspects of security cooperation.

"Work is being done rapidly in Ekatha Harbour project. We will continue our cooperation towards training and capacity building of Maldives National Defence Forces. For stability and prosperity in the Indian Ocean Region, we will work together," he said.