India and the Maldives have successfully concluded the first round of negotiations for a proposed Free Trade Agreement (FTA), held virtually from June 29 to July 7, 2026, marking a significant step towards strengthening trade and investment ties between the two nations.
Officials from both sides reported substantial progress and broad consensus on several key issues. India’s team was led by Chief Negotiator Ujjwal Kumar Ghosh, while the Maldives delegation was headed by Yusuf Riza.
On July 8, Union Minister of Commerce and Industry Piyush Goyal met with Mohamed Saeed, the Minister of Economic Development, Transport, and Trade of the Maldives. The meeting reviewed the progress of the Free Trade Agreement (FTA) and the proposed Bilateral Investment Treaty (BIT). Marking the completion of 60 years of diplomatic relations between the two nations, both sides reiterated their commitment to accelerating these agreements and enhancing cooperation in sectors such as tourism, startups, digital payments, MSMEs, and trade.
The proposed FTA is expected to improve market access, boost investment, and strengthen economic cooperation, both countries are working towards a balanced and comprehensive agreement based on fairness and mutual benefit.
India remained the Maldives’ second-largest trading partner in 2025–26, with bilateral trade rising 13.54% to USD 771.76 million from USD 679.70 million in the previous fiscal year.
(PIB)
