Indian, Maldivian govts sign key projects including launch of RuPay card in Maldives
RuPay card payments from India were launched in the Maldives a few days ago.
On Monday, October 7, the governments of the Maldives and India inked important initiatives, one of which was the introduction of the RuPay card in Maldives. On Sunday, President Mohamed Muizzu of the Maldives commenced a four-day trip to India. He met with Indian Prime Minister Narendra Modi at the Hyderabad House in New Delhi on Monday at the level of a delegation.
The runway at Hanimaadhoo International Airport in the Maldives was essentially launched by Modi and Muizzu during a joint news conference that followed the meeting. Principal agreements were reached by the governments of the two nations in several fields.
Overview of the major projects
RuPay card payments from India were launched in the Maldives a few days ago. The inaugural transaction was observed by Modi and Muizzu on Monday. “A few days back, the RuPay card was launched in the Maldives,” Modi stated during the news conference. Future UPI connectivity will be established between Maldives and India.” The Free Trade Agreement (FTA) negotiations between India and the Maldives have been agreed to.
The Central Bureau of Investigation (CBI) of India and the Anti-Corruption Commission of the Maldives have signed a Memorandum of Understanding (MoU) to facilitate bilateral collaboration in the prevention and battle of corruption.
The two nations’ Memorandum of Understanding on youth and sports cooperation was renewed. A currency swap deal was also inked by India and the Maldives. “…Today, the Maldives received more than 700 social housing units constructed with India’s assistance.We have chosen to start talking about a free trade agreement in order to improve our economic ties,” Modi stated. Modi said that the relationship between India and the Maldives has been centuries old.
“Maldives holds an important position in our neighbourhood policy and SAGAR vision. India has always played the role of first responder for Maldives…India has always fulfilled the responsibilities of a neighbour. Today, we have taken up the vision of a comprehensive economic and maritime security partnership to give our mutual cooperation a strategic direction,” he said.
Meanwhile, Muizzu said, “India is a key partner in the socio-economic and infrastructure development of Maldives and has stood by Maldives during our times of need. I would like to thank PM Modi, the government and people of India for the generous assistance and cooperation extended to Maldives over the years…”
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