India will continuously cooperate in development of defence capabilities of Maldives: PM Modi in Male
Modi in Maldives: Prime Minister Narendra Modi on Friday said that India will continuously cooperate in developing defence capabilities of Maldives and peace, stability and prosperity in Indian Ocean is a common goal of the two countries. In his remarks at the Press Statement with Maldives President Mohamed Muizzu, PM Modi talked of expanding economic cooperation and strong development partnership between the two countries.
'In the sector of defence and security, mutual cooperation is the symbol of mutual trust. The building of Defence Ministry, which is being inaugurated today, is a trusted, concrete building. It is a symbol of our strong partnership. Our partnership will also be in weather science. Whatever the weather may be, our friendship will always remain bright and clear. In the development of defence capabilities of Maldives, India will cooperate continuously. Peace, stability and prosperity in Indian Ocean is our shared goal,' PM Modi said.
'Together in Colombo Security Conclave, we will strengthen regional maritime security. Climate change is a challenge for both of us. We have decide to promote renewable energy. In this sector, India will share its experience with Maldives,' he added.
PM Modi said that last year in October, during the President Muizzu's visit to India, the two countries shared a vision on extensive economic and maritime partnership.
'Now, this is becoming a reality. It is a result of that, that our relations are touching new heights. Inauguration of several projects have become possible. 4000 social housing units, built with India's cooperation, will become a new beginning for several families in Maldives. These will be their new houses. Greater Male Connectivity Project, Addu Road Development Project and redevelopment of Hanimaadhoo International Airport – this entire area will emerge as an important transit and economic centre. Soon, with the beginning of ferry system, commuting between different islands will be smoother. After that, the distance between islands will be measured in terms of just ferry time, and not GPS,' he said.
The Prime Minister said that India is Maldives' closest neighbour and the country holds an important place in India's 'Neighbourhood First' policy and 'MAHASAGAR' vision.
'India is proud of being the most trusted friend of Maldives. Be it a crisis or pandemic, India has always stood as first responders. Be it making essential commodities available or handling the economy after COVID, India has always worked together,' he said.
PM Modi noted that this year, India and Maldives are also celebrating 60 years of their diplomatic relations.
'First of all, on behalf of the people of India, I would like to extend heartiest greetings to the President and people of Maldives on the historic occasion of the 60th year of independence. For inviting me as the Guest of Honour on this historic occasion, I express heartfelt gratitude to the President,' he said.
'But the roots of our relations are older than history and as deep as the sea. The commemorative stamps released today display traditional boats of both nations. This reflects that we are not just neighbours but also co-passengers,' he said.
PM arrived in Maldives on Friday in the second leg of his two-nation tour. He reached Maldives after successful visit to United Kingdom.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Indian Express
18 minutes ago
- Indian Express
PM Modi's engagement with the Maldives shows India is playing the long game
Written by Aditya Gowdara Shivamurthy Prime Minister Narendra Modi was on a state visit to the Maldives from July 25 to 26. The visit comes against the backdrop of the President of the Maldives, Mohamed Muizzu, pushing for a recalibration with India. Driven by economic necessities, India's pragmatic outreach, and China's underwhelming support, he has moderated his 'India Out' policy and rhetoric and toned down his unconditional allegiance to China. Given the backdrop, the visit is a strong symbolic message of Delhi's persistent influence in the country. Besides, it has also laid the ground for New Delhi's long game in the Maldives. By pushing for economic and financial connectivity, especially with the Indian Rupee, and doubling down on political engagement, India is creating new leverage. During PM Modi's visit, both leaders reviewed the entire gamut of relations and agreed to strengthen the multifaceted relationship by implementing the Joint Vision Document. They also inaugurated several India-funded projects, including roads and drainage in Addu city, the Ministry of Defence building, and six High Impact Community Development Projects. India also handed over 72 vehicles for the Maldives National Defence Force, 2 BHISHM Health Cube sets, and 3,300 housing flats. Additionally, they signed four MoUs to further cooperation in pharmacopoeia, meteorology, fisheries, and digitalisation. Most importantly, both countries have signed four agreements on financial and economic connectivity, as the Maldives faces debt distress and declining foreign reserves. As of March 2025, the Maldives has a debt of $9.4 billion, of which nearly 60 per cent is in US Dollars. However, the government continues to struggle with low foreign reserves. Currently, it has a reserve of a mere $850 million, and this year alone, the government will have to service over $600 million, along with maintaining its imports. Next year, it will have to service over $1 billion. Maturing debts, specifically bonds (domestic and external) and Chinese loans, have continued to deplete foreign reserves. China's loans have declined from $613 million in 2021 to $473 million in 2025, and its sovereign guarantees have reduced to $567 million. This has left India as the largest bilateral creditor to the country, especially with loans, currency swaps, and credit lines (LOC) taken under the previous government now maturing. Debts from EXIM India have increased from $15 million in 2021 to $572 million, and the sovereign guarantee is at $608 million. To complicate matters, more than $800 million of Indian loans committed are yet to be disbursed. With a looming economic crisis and increasing Indian debts, India and the Maldives signed an amendatory agreement to close the previous LOC. This will be replaced by a Rupee-denominated LOC worth Rs 4,850 crore (equivalent to $565 million), reducing the Maldives' debt obligations by 40 per cent, from servicing $51 million to $29 million annually, and easing the pressure of depleting US Dollar reserves and overall debts. Another major agreement was the implementation agreement on Unified Payment Interface (UPI). This, together with the RuPay card introduced in October 2024, will boost direct transactions between countries. These developments build on the finalisation of the local currency settlement system. Henceforth, India and the Maldives can now trade and allow tourists, diaspora, and businesses to make cross-border payments in local currencies (Rupees and Rufiyaa) rather than in US Dollars. Both countries also finalised the terms of reference for the India-Maldives Free Trade Agreement (FTA) and formally commenced negotiations on the agreement. With the FTA reducing trade barriers and boosting trade, Indian commodities will become cheaper in the Maldives. India is one of the Maldives' largest trade partners. While their trade is worth $680 million, India exports goods worth $561 million. Earlier, the Maldives would have imported goods from India using US Dollars; they can now do the same with the Indian Rupee, which the Maldives can tap from the currency swap, credit line, and direct transactions. This will help ease pressure on the economy and reduce the outflow of the US Dollar. The FTA will also likely be complemented with a bilateral investment treaty, creating new economic leverage for India. Learning lessons from the past, India also doubled down on its engagements across party lines. During his visit, PM Modi met prominent figures from the ruling party, including those who played a crucial role in the 'India Out' campaign and are close to China. These engagements also included bilateral meetings with the President, the Vice President, and the Speaker of the parliament. Modi also held a meeting with prominent figures from the Jumhooree Party, Maldives National Party, and Maldives Development Alliance. Separate meetings were held with the main Opposition, the Maldivian Democratic Party, and former President Mohamed Nasheed. These engagements underline India's attempts at making relations non-partisan and resilient to turbulent domestic politics. PM Modi's latest visit to the Maldives shows that India is letting bygones be bygones, and is more optimistic about the future. There is confidence that the Maldives will understand that regional security is an issue of mutual interest. However, there are some problems. For India, the Maldives' economic stability remains a major challenge. On its part, Malé will continue to engage with Beijing to seek assistance and investments in order to diversify and not become over-reliant on India. Discussions of loan restructuring with China began in January 2024 and have shown little progress, further nudging Muizzu to engage with the country. India, therefore, should not let its guard down. The writer is an associate fellow with the Strategic Studies Programme's Neighbourhood Studies Initiative
Fibre2Fashion
20 minutes ago
- Fibre2Fashion
Indian industry leaders weigh in on CETA with UK
During the recent London visit of Prime Minister Narendra Modi, India and the United Kingdom officially signed a Comprehensive Economic and Trade Agreement (CETA), marking a significant advancement in strengthening bilateral economic relations. The deal signed by Commerce Minister Piyush Goyal and his British counterpart Jonathan Reynold in the presence of Prime Minister Modi and UK Prime Minister Keir Starmer is designed to reduce tariffs on a wide range of goods—including textiles, whisky, and automobiles—while also enhancing market opportunities for businesses in both countries. According to the agreement, 99 per cent of Indian exports to the UKâ€' encompassing over 1,143 crucial textile and clothing itemsâ€'will now enjoy zero-duty access. Stakeholders confident the deal between the world's sixth- and fifth-largest economies will significantly benefit the Indian textile and apparel sector. The zero-duty regime is expected to take at least a year to come into effect. The trade talks, which spanned over three years with intermittent progress, reached a conclusion in May. Negotiators on both sides accelerated efforts to finalise the deal against the backdrop of global tariff disruptions set in motion by the Trump administration. Bringing together two of the world's top economies —ranked sixth and fifth globally—the deal sets an ambitious goal of increasing bilateral trade by $34 billion by 2040. For the United Kingdom, this is its most substantial trade pact since its departure from the European Union in 2020. For India, it marks a major strategic breakthrough, establishing a comprehensive economic partnership with an advanced economy and potentially laying the groundwork for similar agreements with the European Union and other global partners. According to the agreement, 99 per cent of Indian exports to the UK— encompassing over 1,143 crucial textile and clothing items, as per reports—will now enjoy zero-duty access, providing Indian exporters with a stronger foothold in the British market. Reacting on the development. Sudhir Sekhri, Chairman AEPC , said, 'The signing of the landmark India-UK bilateral trade agreement, marks a significant milestone in strengthening the strategic and economic ties between the two nations. This deal will usher a new era of garment trade with the UK. This agreement will enhance market access, spur investment and job creation in the garment sector, besides creating new opportunities for businesses and consumers on both sides.' He further added: 'The India-UK CETA will not only give competitive market access to the Indian apparel products in the UK market but also increase the trust and reliability factor by streamlining customs procedures and mutual recognition of standards, thereby, reducing the compliance burdens for the Indian apparel exporters. With duty-free access, the apparel exports to the UK will witness a renewed thrust and moment in the coming years.' Dr. A. Sakthivel, Honorary Chairman of Tiruppur Exporters' Association (TEA) and Vice Chairman of AEPC , hailed the signing of the agreement and commended both the Prime Minister and the Ministry of Commerce & Industry for what he called a transformative deal for India's textile and apparel industry. He maintained: 'This agreement paves the way for a historic leap forward for our industry,' adding, 'It resonates strongly with our national vision to place India among the top three global economies.' Dr. Sakthivel further shared with Fibre2Fashion the deal's benefits for regional textile hubs, citing improved access for key manufacturing centres including Tiruppur, Surat, Ludhiana, Pune, Chennai, West Bengal, and Assam. He also pointed out that Indian exporters are now in a much stronger position to compete with counterparts from Bangladesh, Vietnam, and China in the UK's textile and apparel market. Reflecting on the potential boost to India's readymade garment (RMG) sector, Dr. Sakthivel said: 'We anticipate that exports of RMG to the UK will more than double—from $1.45 billion to approximately $3.25 billion. Within this, knitwear alone is expected to grow from $0.8 billion to around $2 billion, accounting for nearly 70 per cent of total RMG exports to the UK.' Speaking to Fibre2Fashion, N Thirukkumaran, chairman of Esstee Exports and General Secretary of TEA said India's apparel exports is expected to double in the next 2-3 years, thanks to the India-UK CETA. He also noted that this agreement could serve as a model for future successful FTAs, including with the European Union. Thirukkumaran further emphasised the positive impact of the India-UK CETA on job creation in the textile sector, which remains the second-largest source of employment in India after agriculture. Meanwhile, interacting with Fibre2Fashion, Rahul Mehta, the chief mentor of the Clothing Manufacturers Association of India (CMAI) underlined that 'the India-UK CETA is obviously going to have huge impact on textiles and apparel exports from India, with prices being reduced by close to 10 per cent.' 'While I may not share the euphoria of some of my peers, I do see our apparel exports rising from the current $1.3 billion to probably around $2.0 to $2.2 billion over the next few years,' said Mehta. 'That said, we must remember the zero-duty regime will likely take at least a year, if not longer, to come into effect. Plus, UK buyers have stringent compliance and sustainability requirements. Indian exporters will need to significantly upgrade their operations to meet these growing expectations—particularly around sustainability,' he added. Though not overly concerned about the potential impact of the FTA on India's domestic market, the CMAI chief mentor nevertheless expressed surprise that this issue has largely gone unnoticed in media discussions. 'It is zero per cent on both sides, remember!' Mehta concluded with a note of caution. Fibre2Fashion News Desk (DR)
The Print
an hour ago
- The Print
Dhankhar's resignation: How Modi-Shah's ‘capable' BJP has served another strong message to RSS
Preparing to vacate the Vice President's Enclave barely three km from there, Jagdeep Dhankhar would have been bemused had he heard the BJP leader's assertions about the party's ideological moorings and priorities. The last time I visited the old VP House, his wife, Sudesh Dhankhar, wasn't very keen on moving to the new official residence that was under construction then. 'Almost two years are already gone. Why to move to a new place (for the remaining tenure)?' she had told me over breakfast. It wasn't going to be their choice, obviously. In hindsight, her reluctance turned out to be a sort of premonition. Their daughter and her family never shifted to the VP House and preferred to stay put in Gurgaon. These facts give us a glimpse of how the Dhankhar family was always practical and modest, and harboured no vaulting ambitions. The Congress, said the above-mentioned BJP functionary, is a leader-driven political party with the sole objective to attain power. 'We are not a political party. We are a cadre-driven ideological party,' he said. If someone felt a pinch of salt in the chaat, it was deliberate. To validate his point, the BJP leader narrated the story of the demolition of Ayodhya's Babri mosque in 1992. Only two persons knew about the plan — Moropant Pingle and Ashok Singhal. Even LK Advani and Kalyan Singh had no idea about it, he said. Pingle was 'very clear' that the mosque had to go even if it meant the BJP not coming to power for 500 years. 'So, you see, ours is an ideology-driven party,' the BJP MP summed up. At Shashi Tharoor's 'mango and chaat' party last Thursday, a BJP spokesman and parliamentarian — a brainy, erudite one, not one of those peddlers of banality — was holding forth on how his party was different. A few Congress politicians from Kerala had sneaked in and out, noticing the conspicuous absence of senior leaders. BJP leaders could, therefore, relish the succulent mangoes and talk about the virtues of their party without having to care about any spoilsport lurking around. The 'reasons' Jagdeep Dhankhar would know why he was suddenly in the BJP's crosshairs. His 'ouster' had much to do with the party's ideological fountainhead, the Rashtriya Swayamsevak Sangh (RSS), and what JP Nadda would call the BJP's 'sakshamta' or capability. I will come to it a bit later. Let's first look at the reasons for Dhankhar's resignation. Nobody is buying the medical reason as mentioned in his resignation letter. That he quit under duress is an open secret. Let's examine the reasons that BJP leaders have been giving on the condition of anonymity. First, that the Narendra Modi-led government was uneasy about his diatribe against the judiciary. Really! The National Judicial Appointments Commission Act, 2014 was one of the first legislations brought by the Modi-led government. Remember the 'tyranny of the unelected' remark by then-finance minister Arun Jaitley when the Supreme Court struck it down? Senior ministers and BJP leaders have been attacking the highest judiciary since then. In April, BJP MP Nishikant Dubey said that the Supreme Court was responsible for 'inciting religious wars' and then-Chief Justice of India Sanjiv Khanna for 'civil wars' in India. Now compare their scathing remarks about the judiciary with those of ex-VP Dhankhar. Do you still think that the VP's criticism of the judiciary could be one of the reasons for his ouster? No way. In 2018, a few weeks after four Supreme Court judges had addressed a press conference, triggering a huge controversy, Prime Minister Narendra Modi met a few journalists from a prominent English newspaper. I have it from authoritative sources that when they asked him about the judges' presser, he told them, 'You should know that a handful of families control the entire judiciary — just 60. But you media people don't write about it.' As a brilliant investigation done by my colleague, Apoorva Mandhani, early this year, PM Modi's figure was a bit exaggerated but he was right about the prevalence of dynasties and nepotism in the judiciary. Apoorva found out that 60 per cent of the SC judges were from lawyer or judge families. And one in three High Court judges were related to judges, ex-judges or lawyers. These figures vindicate Modi whose government has perpetually been at odds with the Supreme Court collegium over judicial appointments. In this backdrop, one has to be incredibly credulous to buy BJP spin masters' argument that the government got rid of VP Dhankhar for harmonious relationship with the judiciary. Another explanation offered by them is that Dhankhar had started embarrassing the government by publicly criticising it. They offer just one instance — when Dhankhar had, in the presence of Agriculture Minister Shivraj Singh Chouhan, questioned the government for not fulfilling its promises to farmers. 'How could he say that to Shivraj Chouhan?' — is the usual refrain of spin masters. Their sympathy is touching given how Chouhan was denied CMship even after leading his party to a historic victory in Madhya Pradesh in the last Assembly election. Also, Dhankhar had prefaced his sympathy for farmers with dollops of praise for the government. 'For the first time, I have seen India changing…India was never at such great heights…when this is happening, why are farmers suffering?' he had said. As it was, Dhankhar seemed to be playing to the gallery. Besides, that was the only time he said something that might be construed as remotely critical of the government. The spin masters would have us believe that the BJP top brass remembered Shivraj Singh Chouhan's pain seven months later and decided to oust the VP. I am not sure if Chouhan is shedding copious tears of joy to see the party high command's sudden love and respect for him. For all we know, he may be dismayed. Yet another reason being offered by spin masters is that Dhankhar, without consulting the government, presented the Opposition's motion to remove Allahabad High Court Judge Yashwant Varma in the Rajya Sabha. The government wanted to move the motion, supported by all parties, in the Lok Sabha. What's the big deal? Dhankhar had only spoken about the Opposition's motion, as any chairperson should ideally do. He had not admitted their motion yet. That's why the government has now declared that they will first go ahead with the motion in the Lok Sabha. The government could have done the same even without throwing Dhankhar under the bus. They just needed to visit Dhankhar in his chamber and ask him not to admit it. Yet another reason being cited is that he was dusting off the Opposition's pending motion to remove Justice Shekhar Yadav for his alleged hate speech case. But how could he have kept mum about one motion against one judge when a similar motion against another judge that was moved later was being taken up by both Houses of Parliament? Also read: Jagdeep Dhankhar's abrupt exit says three things about the Modi govt Dhankhar and the RSS If you have heard of or read more explanations from the government and the party's spin masters for Dhankhar's resignation — nay, removal — just put them through a test of logic and reason. They all sound ludicrous. Just think of the above-mentioned explanations. Are these spin masters listening to what they are saying? Because their explanations project the Modi-led government as so dictatorial and insecure that it won't allow the occupant of the second-highest Constitutional office in India to use his discretion even in routine matters in the Rajya Sabha. Those spin doctors suggest that top BJP leadership has become so arrogant that they can boot out the Vice President of India for acting without taking their permission even in trivial matters. That would be a bigger cause of worry for us. Thankfully, those are not the exact reasons for Dhankhar's ouster. It's a message to the RSS. To be precise, it serves as a response to RSS chief Mohan Bhagwat's reference to the 75-year ceiling. We often heard Dhankhar singing paeans of the RSS inside and outside the Rajya Sabha. Given that Dhankhar's ideological moorings were not in the RSS, his effusive praise of the Sangh was seen as an outreach to the BJP's ideological patron. The fact is that Dhankhar had grown close to RSS top functionaries over the years and was in constant touch with them. The Sangh was using his legal advice on different issues, including in the Ayodhya Ram Janmabhoomi case. They grew only closer when he, as the West Bengal Governor, went after the Mamata Banerjee government. Its failure to govern Syama Prasad Mookerjee's home state has always been a sore point for the Sangh. The RSS was instrumental in getting Dhankhar into the Vice President's House. They could only watch in silence as the BJP sent him packing without consulting the Sangh. The chain of events leading to Dhankhar's resignation last Monday had started with Leader of the Rajya Sabha JP Nadda snubbing Dhankhar by skipping the Rajya Sabha Business Advisory Committee meeting called by the latter at 4:30 pm. It must be a coincidence that it was Nadda who had declared last year that the BJP was saksham or capable now and could manage its own affairs without the RSS' interference. Amid the stalemate over the choice of the next BJP president, Dhankhar's sudden ouster is another message to the RSS that the BJP is saksham now and can manage its own affairs. DK Singh is Political Editor at ThePrint. He tweets @dksingh73. Views are personal. (Edited by Aamaan Alam Khan)
