India Has Always Been Maldives' Friend In Need, Be It For Infrastructure Or Health: Take A Look
Prime Minister Narendra Modi on Friday expressed confidence that the friendship between India and the Maldives will 'scale new heights of progress", as he arrived in Male for a two-day state visit at the invitation of Maldivian President Mohamed Muizzu.
In a post on social media platform X, PM Modi wrote, 'Landed in Male. Deeply touched by the gesture of President Muizzu to come to the airport to welcome me. I am confident that India-Maldives friendship will scale new heights of progress in the times to come."
He is visiting the island nation at the invitation of Maldivian President Mohamed Muizzu and will attend the 60th Independence Day celebrations of the Maldives as the Guest of Honour.
Landed in Malé. Deeply touched by the gesture of President Muizzu to come to the airport to welcome me. I am confident that India-Maldives friendship will scale new heights of progress in the times to come. @MMuizzu pic.twitter.com/GGzSTDENsE — Narendra Modi (@narendramodi) July 25, 2025
The Ministry of External Affairs shared on X, 'PM @narendramodi lands in Male, Maldives to a ceremonial welcome. In a special gesture, President @MMuizzu and his Cabinet members received PM at the airport. This is the 3rd visit by PM to. PM will be participating as 'Guest of Honour' at the 60th anniversary of the Independence of."
This is Prime Minister Modi's third visit to the Maldives and marks the second leg of his two-nation tour after the UK.
Over the years, India has always been a friend in need to the Maldives. Here's how:
Economic & Financial Assistance
Treasury bills and liquidity support: India renewed a USD 50 million treasury bill for another year via State Bank of India in May 2025, helping Maldives avoid default amidst heavy debt exposure. In 2024, India extended a USD 400-million currency swap line (via SAARC framework). It also granted an additional Rs 30 billion support to stabilise the Maldivian rufiyaa.
Budget support grants: For FY 2025–26, India allocated Rs 600 crore — up from Rs 470 crore—contributing approximately 72% of projected grant aid to Maldives.
COVID-era aid: I ndia gifted a USD 250 m cash package in treasury bonds to assist during the pandemic in September 2020.
Infrastructure & Connectivity
News18 had earlier reported how as part of the India-Maldives development partnership, India has extended eight 'Line of Credit' Projects worth USD 1.3 billion to the Maldives. EXIM Bank of India signed a Line of Credit Agreement for USD 400 million, for funding the Greater Male Connectivity Project (GMCP), while India committed a USD 100 million grant for the project.
The projects India has helped with include:
Greater Malé Connectivity Project: The flagship project includes a 6.74 km bridge-causeway network linking Malé with Villingili, Gulhifalhu, and Thilafushi—funded via USD 100 m grant + USD 400 m LoC to enhance mobility for nearly half the population.
Hankede Bridge (Addu City): A 1.4 km bridge connecting Maradhoo to Gaukendi, built under the LoC, inaugurated in February 2025 to boost regional connectivity in southern Maldives.
Gan International Airport (Addu): Largest-ever Indian-funded airport project, inaugurated in 2023-24 to enhance southern Maldives connectivity and tourism.
Addu City roads & reclamation: A USD 200 m project boosting infrastructure and tourism potential in Maldives' second city.
Gulhifalhu Port project: India-backed harbour on Gulhifalhu to decongest Malé Port and support logistics—being rolled out under infrastructure credit lines.
Water & sanitation: Major climate-resilient infrastructure in 34 islands, benefiting ~28,000 residents, funded via USD 100 m grant for water supply and sewerage systems.
Social housing: Development of 4,000 affordable housing units in Hulhumalé Phase II under buyers' credit, easing pressure on capital housing.
Fisheries & industrial support: Expansion of Maldives Industrial Fisheries Company (MIFCO) facilities at Felivaru and Gemanafushi islands, aiding the export-based economy; ice plants and logistics capacity set up under Indian support, with one plant inaugurated in February 2025.
INS Kesari deployed to the Southern IOR for 'Mission Sagar' arrived at Kochi today after 55 days of special 'COVID Relief Mission'.The ship delivered 580T of food aid and essential medical stores to Maldives, Mauritius, Madagascar, Comoros Is and Seychelles. @SpokespersonMoD pic.twitter.com/t0dD61O7U3
— PRO Defence Kochi (@DefencePROkochi) June 28, 2020
Defence & Security Cooperation
Defence infrastructure: India funded and supports the construction of Uthuru Thila Falhu Naval Base & harbour, as well as coastal radar infrastructure in the Maldives.
Capacity building & training: India provides 70% of MNDF training, with over 1,500 Maldivian service personnel trained in India; joint exercises such as Ekuverin, Ekatha, and trilateral Dosti improve interoperability.
Operation Cactus & rapid response history demonstrates India's role as the Maldives' 'first responder" in crises since the late 1980s.
Taking on #CoronavirusPandemic together 🇲🇻 🇮🇳As a humanitarian gesture, India will:
a. send a large composite #Covid_19 'medical relief team' tomorrow to assist Maldives health authorities
b. gift essential medicines to the GoM despite temporary export ban @MoFAmv @MoDmv pic.twitter.com/XJZ49G2gQQ
— India in Maldives (@HCIMaldives) March 12, 2020
Digital, Health & People-centric Cooperation
Health infrastructure: India built the Indira Gandhi Memorial Hospital in Malé (1995), a 300-bed tertiary facility, and supports TB medication and plans for a cancer specialty hospital in Laamu Atoll.
Community projects: India has supported 45 high impact community development projects covering amenities like playgrounds, gyms, coastal protection, police infrastructure, schools, and more—27 already completed with grants totaling dozens of millions USD.
top videos
View all
Digital and financial systems: Launch of RuPay cards and plans to introduce UPI and unique digital identity systems in Maldives; MoUs agreed to support cross-border local currency trade and digital public infrastructure under SAGAR policy.
With Agency Inputs
About the Author
News Desk
The News Desk is a team of passionate editors and writers who break and analyse the most important events unfolding in India and abroad. From live updates to exclusive reports to in-depth explainers, the Desk d...Read More
Get breaking news, in-depth analysis, and expert perspectives on everything from politics to crime and society. Stay informed with the latest India news only on News18. Download the News18 App to stay updated!
tags :
India Maldives ties Maldives Mohamed Muizzu Narendra Modi
view comments
Location :
New Delhi, India, India
First Published:
July 25, 2025, 14:43 IST
News india India Has Always Been Maldives' Friend In Need, Be It For Infrastructure Or Health: Take A Look
Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Indian Express
28 minutes ago
- Indian Express
With Rs 3,875 crore, Gurgaon leads Haryana liquor vend auctions that raked in over Rs 14,300 crore
Gurgaon district led Haryana excise department's revenue collection with Rs 3,875 crore, contributing 27 per cent to the state's total of Rs 14,342 crore in liquor vend auctions that concluded in July under the 2025-27 policy, officials said. The figure marks a proportionate rise of 13.25 per cent from the Rs 7,025 crore collected in last year's auctions. The department successfully auctioned all 1,194 retail liquor zones, issuing licenses for 2,388 vends, with each zone allowing two vends per licensee. In the 2024-25 fiscal, liquor vend licences were issued for a one-year term, unlike 22 months this time. 'The auctions concluded in July, a month earlier than last year's August timeline, due to the attractive provisions of the 2025-27 Excise Policy,' said Vinay Pratap Singh, Commissioner, Excise and Taxation. A transparent web portal facilitated high participation, he added. The other top contributors include Faridabad with Rs 1,696 crore or 12 per cent of the total revenue collected, followed by Sonipat (Rs 1,066 crore), Rewari (Rs 654 crore), Hisar (Rs 615 crore), Karnal (Rs 612 crore), and Panipat (Rs 605 crore). Yamuna Nagar's revenue rose to Rs 439.88 crore from Rs 237.81 crore last year, despite low initial participation. Significant year-on-year revenue increases were seen in Bhiwani (23.5%), Fatehabad (21%), Hisar (21%), Kurukshetra (20.5%), Karnal (19%), and Panipat (18%). The Haryana Government has set a revenue target of Rs 14,064 crore under the new excise policy. In 2024-25, the government had collected Rs 12,700 crore against a target of Rs 12,650 crore. 'Prompt and strong action by state law enforcement against criminal elements, under the directions of the Hon'ble Chief Minister, ensured faster auctions and substantially higher revenue,' the commissioner stated. He highlighted that these measures underscored the state's commitment to the safety and security of its residents, contributing to the auction's success. Earlier, the third phase of liquor vend auctions, held on May 31, was a bonanza for the Haryana government's exchequer as bids fetched Rs 1,270.40 crore, exceeding the reserve price of Rs 1,198.90 crore by 5.96 per cent. Bristol Chowk at the city's elite Golf Course Road saw the highest bids at Rs 98.6 crore by G-Town Wines against a reserve (base) price of Rs 94.6 crore. Last year, the same zone had seen the highest bid by the same winning bidder at Rs 48.28 crore against a base price of Rs 36.75 crore. The state excise department had, in that phase, completed the auctions of 50 out of 79 liquor retail zones in Gurgaon (East) under the Excise Policy 2025-27. DLF-3 zone had fetched Rs 63 crore against a reserve price of Rs 60 crore, the second highest in the district. The third highest had been for Shankar Chowk zone, which had gone at the base price of Rs 62 crore. Nawada zone saw winning bids that were 30 per cent higher than the base price, while the same for South City was 25 per cent, followed by American Express on Southern Peripheral Road (24.3% higher), Badshapur (20.9%), Sikohpur and Kankrola (20.5% each), Sohna Road (16.9%), and Banni Square (12%). The excise department allots licences through its zones in Gurgaon, and an allottee can open two vends in the zone with a cap of two to limit monopoly by big businesses. Competition from neighbouring states has increased in recent years because the policy is liberal – compared to other states – and the prices are low, driving many companies to make a foray into the business in Haryana, excise officials had earlier told The Indian Express.
Mint
28 minutes ago
- Mint
Poonawalla Fincorp share price rises 6% despite sell-off in Indian stock market; here's why
Poonawalla Fincorp share price jumped over 6% on Monday led by heavy buying momentum, despite broader weakness in the Indian stock market. Poonawalla Fincorp shares rallied as much as 6.59% to ₹ 440.75 apiece on the BSE. Around 40 lakh equity shares of Poonawalla Fincorp changed hands on stock exchanges, significantly higher than their one week average trading volumes of 19 lakh shares. The rally in Poonawalla Fincorp share price comes after the financial services company approved raising ₹ 1,500 crore from its promoter and aims for over 40% growth in its asset book, led by expansion in products portfolio including gold loans. The board of directors of Poonawalla Fincorp, on July 25, approved raising of funds up to ₹ 1,500 crore from promoter Adar Poonawalla's Rising Sun Holdings by issuing and allotting of 3.31 crore fully paid-up equity shares at an issue price of ₹ 452.51 per equity share by way of preferential allotment and private placement basis. The equity infusion has increased Poonawalla Fincorp's net worth to ₹ 9,700 crore. 'The said capital raise is a strategic move not only strengthens the company's financial position but also reinforces the promoter's confidence in the Company's long-term potential. The Company is well positioned to continue its growth trajectory, deliver value to its stakeholders and achieve its ambitious objectives in the competitive NBFC landscape,' Additionally, Poonawalla Fincorp is targeting above 40% growth in its asset book on the back of expansion in products portfolio including gold loans. 'We have given Asset Under Management growth guidance of 35-40% this year. We hope to exceed our target as new product lines are gaining good traction,' Poonawalla Fincorp MD and CEO Arvind Kapil told PTI. The non-deposit-taking NBFC, Poonawalla Fincorp, reported a net profit of ₹ 63 crore in the first quarter of FY26, a steep fall of 78.5% from ₹ 292 crore in the year-ago period, impacted by one-time expenses and prior provisioning. However, profit remained flat on a sequential basis. The company's net interest income (NII) in Q1FY26 increased to ₹ 639 crore from ₹ 576 crore, year-on-year (YoY). Poonawalla Fincorp registered a 53% robust growth on an annual basis in AUM at ₹ 41,273 crore at the end of first quarter ended June 30, 2025. In Q1FY26, the company had taken a one-time accelerated provision of ₹ 666 crore on the erstwhile STPL book, which also improved its provision coverage ratio (PCR) to 53.93%, up from 52.53% a year earlier. 'With credit cost significantly reducing on an overall basis by 53 bps QoQ, a risk-calibrated AUM increase of 15.8% QoQ, and ~Rs.1,500 cr capital infusion on preferential basis by the promoter, strengthens the company and supports its growth plans. Poonawalla Fincorp is well-poised for building a risk-first, sustainable, and profitable model,' said Arvind Kapil, Managing Director and CEO, Poonawalla Fincorp. Poonawalla Fincorp share price has fallen 3% in one month, but the NBFC stock has rallied 14% in three months and 42% in six months. The stock is up 40% on a year-to-date (YTD) basis, while it has gained 16% in one year. Poonawalla Fincorp share price has delivered multibagger returns of 1607% over the past five years. At 10:35 AM, Poonawalla Fincorp share price was trading 5.94% higher at ₹ 438.05 apiece on the BSE. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
India Today
28 minutes ago
- India Today
Have you got your BluSmart refund yet? It's been 90 days
Several customers of electric cab company BluSmart are still waiting for refunds from their in-app wallets, even after more than 90 days. Now, users say that the app itself has stopped working, making matters which operated electric cabs in Delhi-NCR and Bengaluru, had paused ride bookings in April 2025 and promised users that their wallet balances would be refunded within 90 days if services didn't as July comes to an end, users say they have not received their money back and are struggling to even access the user wrote on social media, 'I had money in my BluSmart wallet, there's been no refund for the past 3 months and now the app isn't opening either. What's going on? No communication, no update. This is seriously concerning.'Another customer, posted, 'BluSmart has not yet refunded my wallet balance after saying refund will be provided within 90 days and 90 days are over.' Users complain on X Many other users are sharing similar complaints, tagging the company and government bodies like Sebi and RBI.A user on X said, 'BluSmart has not yet refunded my wallet balance after saying refund will be provided within 90 days and 90 days are over.'Another affected user, posted, 'The 90-day refund timeline communicated by BluSmart India has elapsed, yet users have not received their wallet refunds. I truly hope BluSmart is looking into this matter and taking steps toward a resolution including processing my Rs 34k refund.'BluSmart had earlier changed its refund policy, increasing the refund wait time from six days to 90 days after it stopped accepting new the time, the company had said, 'We have decided to temporarily close bookings on the BluSmart app. While we strive to be back soon to serve you with the same warmth and smile, we will initiate a refund within the next 90 days if services do not resume before then.' tried to check the app and found it did not open, showing an error message saying, 'Something went wrong.' BluSmart app not working The delay in refunds comes amid a larger crisis involving BluSmart's business. The Securities and Exchange Board of India (Sebi) is investigating Gensol Engineering, a company linked to BluSmart, for allegedly misusing over Rs 200 crore meant for buying electric has barred BluSmart's promoters, Anmol Singh Jaggi and Puneet Singh Jaggi, from taking any board-level roles and from accessing the securities market. The market watchdog has accused them of diverting vehicle loan funds for real estate allowed customers to add money to their in-app wallets to pay for electric cab rides. But after the app was shut down and operations halted, users have been left in the dark about the refund things stand, there is no clear answer on when or if the refunds will be processed. Customers who trusted the platform with their money are left waiting, frustrated and without any clear support.- Ends advertisement
