'India Our Closest Partner, It Is Even Better Now': Maldives President Muizzu
News18 spoke with Mohamed Muizzu at the Republic Square in Malé, soon after PM Modi left following a two-day state visit
Maldives President Mohamed Muizzu told News18 in an exclusive conversation on Saturday that India is his country's 'closest partner" and the new Rs 5,000 crore credit line announced by Prime Minister Narendra Modi during his visit will greatly help the archipelagic country.
News18 spoke with Muizzu at the Republic Square in Malé, soon after PM Modi left following a two-day state visit.
'India is our closest partner, of course. I'm sure it is even better now," Muizzu said.
The President said that the Maldives was looking forward to the completion of the free trade agreement (FTA) with India. Both countries announced during PM Modi's visit that they will begin negotiations over the FTA. 'Once completed, the FTA will be very beneficial for traders of both countries. We are looking forward to it," Muizzu told News18.
He also described the new Rs 5,000 crore credit line from India as a big help. Muizzu, in fact, told News18 how his government plans to utilise this aid. 'We have earmarked a lot of crucial projects to carry out with that. For example, hospitals, housing development, infrastructure, schools. So, it will definitely help," Muizzu said in the interview.
The Maldives President also expressed his 'utmost thanks" to PM Modi for coming on this visit. 'We are very grateful to the PM," Muizzu told News18.
These comments from Muizzu are a remarkable turnaround from 2023, when he came to power in the Maldives on an 'Out India" plank, and some of his ministers made uncharitable remarks on India in 2024.
Muizzu also made state visits to Turkey and China before India, changing an old convention where a Maldives President always paid his first visit to India. But foreign minister S Jaishankar's visit to the Maldives last year, followed by Muizzu's state visit to India in October, brought bilateral relations back on track.
view comments
First Published:
July 26, 2025, 19:13 IST
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.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
9 minutes ago
- Economic Times
Tata Steel more than doubles June quarter profit of Rs 2,007 crore despite sales volume decline
Tata Steel's consolidated net profit more than doubled on-year to Rs 2,007.36 crore in the June quarter helped by reduced losses in its UK unit and as profitability improved for its operations in India. Profit surpassed market estimates. ADVERTISEMENT This helped overshadow a drop in consolidated sales volumes, which fell 3.6% to 7.12 million tonnes for the quarter. In India, the company sold 4.75 million tonnes of steel, a 3.8% decline from a year earlier. 'The G blast furnace relining in Jamshedpur is at an advanced stage of completion and with Kalinganagar ramping up, India volumes are expected to be sequentially higher in the next quarter,' said Koushik Chatterjee, chief financial officer. For its operations in the UK, revenue fell to Rs 6,096 crore from Rs 6,810 crore a year ago, but loss at an EBITDA level more than halved to Rs 468 crore from Rs 955 crore a year ago. In the Netherlands, the company made an EBITDA of Rs 612 crore for the quarter, up from Rs 453 crore a year ago, while EBITDA made on each tonne of steel rose to Rs 4,080 from Rs 3,075 a year the global steel major's consolidated revenue from operations for the June quarter fell to Rs 53,178 crore from Rs 54,771 crore a year ago, its consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) rose 10% on-year to Rs 7,480 margins stood at 14%, while EBITDA improved to Rs 10,470 per tonne from Rs 9,407 a tonne at a consolidated level. For its operations in India, the adjusted EBITDA made on each tonne of steel rose to Rs 15,760 rupees from Rs 14,236 a year ago, while margins were significantly higher at 24%. ADVERTISEMENT 'Higher steel realisations offset the decline in volumes across geographies,' said Chatterjee. 'Our cost transformation program, focused on multiple levers including operating KPIs, supply chain and procurement, has delivered around Rs 2,900 crores during the quarter.'Tata Steel spent Rs 3,829 crore on capital expenditure during the quarter. Its net debt increased to Rs 84,835 crore as of June-end from Rs 82,579 crore at the end of the March quarter. The net debt stood at Rs 82,162 crore at the end of the June quarter last year. ADVERTISEMENT Tata Steel also announced buying a 26% stake in TP Adarsh, a wholly-owned unit of Tata Power Renewable Energy, for up to Rs 6 crore in one or more tranches.'The objective of the acquisition is to optimise Tata Steel's power cost and carbon footprint by replacing grid power with cost effective renewable power,' the company said in a statement. TP Adarsh is yet to commence operations. ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
9 minutes ago
- Time of India
Indus Towers Q1 Results: Profit falls 9% YoY to Rs 1,737 crore amid rising expenses
Synopsis Indus Towers reported a 9.8% on-year drop in Q1 net profit to Rs 1,737 crore, impacted by rising expenses despite a write-back of provisions from Vodafone Idea. Revenue increased by 9.1% to Rs 8,058 crore, with growth in new towers and co-locations. The company is cautiously monitoring Vodafone Idea's financial stability.
Indian Express
9 minutes ago
- Indian Express
Ambanis to inject Rs 15,825 cr into Jio Financial, boosting stake to over 54%
The Mukesh Ambani family is set to increase its stake in Jio Financial Services (JFSL) from 47.12 per cent to 54.19 per cent with a Rs 15,825 crore investment through a preferential issue of convertible warrants. JFSL's board approved the fundraising plan on Wednesday. The capital will be raised by issuing up to 50 crore warrants at Rs 316.50 each. Every warrant can be converted into one fully paid equity share, with a face value of Rs 10 and a premium of Rs 306.50. The preferential allotment will be made on a private placement basis to two promoter group entities: Sikka Ports & Terminals Ltd and Jamnagar Utilities & Power Private Ltd. Jio Financial shares closed marginally lower by 0.25 per cent at Rs 320.20 on the BSE on Wednesday.
