The Indian government announced the successful conclusion of the first round of negotiations for the India-Maldives Free Trade Agreement (FTA) on Tuesday. India holds the position of the second-largest trading partner of the Maldives. Bilateral trade between the two nations saw an increase from $679.70 million in 2024–25 to $771.76 million in 2025–26, marking a growth of 13.54 percent.
Negotiating teams from both India and the Maldives participated in text-based discussions across eight technical sessions covering eight policy areas. Significant progress was made by both sides across various negotiating tracks, leading to a broad consensus on several issues. The Indian negotiating team, led by Chief Negotiator Ujjwal Kumar Ghosh from the Department of Commerce, engaged with the Maldives delegation led by Chief Negotiator Yusuf Riza.
Commerce Minister Piyush Goyal recently met with his Maldivian counterpart, Mohamed Saeed, Minister of Economic Development, Transport, and Trade of the Maldives. The ministers reviewed the progress of ongoing bilateral economic initiatives, including the India–Maldives FTA negotiations. Celebrating 60 years of diplomatic relations, both countries reiterated their commitment to expediting the conclusion of the Bilateral Investment Treaty (BIT) and the Free Trade Agreement (FTA).
India and the Maldives aim to enhance cooperation in tourism, startups, digital payments, MSMEs, and trade to unlock new opportunities for both nations. The proposed FTA is anticipated to bolster bilateral economic and trade relations by improving market access, facilitating investment, promoting economic cooperation, and fostering sustainable economic growth in both countries. Both sides are striving for a comprehensive agreement based on principles of fairness and reciprocity.
