Mon Oct 07 10:34:03 UTC 2024: ## India and Maldives Strengthen Ties with Rupay Card Launch and Vision for Economic Collaboration
**New Delhi, India** – In a significant step towards bolstering economic relations, India has introduced the Rupay card in the Maldives, marking a new chapter in the growing partnership between the two nations. The launch comes as a result of extensive discussions between Indian Prime Minister Narendra Modi and Maldives President Mohamed Muizzu, who is on his first official visit to India since assuming office last November.
President Muizzu’s four-day state visit, aimed at strengthening ties strained in recent years, has resulted in a reset in relations. Both leaders agreed on a comprehensive vision document outlining a roadmap for a strengthened economic and maritime security partnership.
The introduction of the Rupay card is expected to facilitate seamless transactions between the two countries, boosting tourism and trade ties. President Muizzu expressed his gratitude for the warm reception, highlighting the discussions held with PM Modi on charting a path for future collaboration.
Prime Minister Modi reaffirmed India’s commitment to supporting the Maldives, emphasizing the deep historical ties between the nations. India’s ‘Neighbourhood First’ policy and ‘SAGAR’ Vision place the Maldives as a crucial partner.
Modi highlighted India’s consistent support to the Maldives during times of crisis, citing swift assistance during the COVID-19 pandemic and other emergencies.
On the economic front, President Muizzu expressed his intention to conclude a free trade agreement with India, aiming to boost bilateral trade and economic engagement. He also acknowledged India’s financial assistance, including the rollover of Treasury Bills and a currency swap agreement, which have provided much-needed economic stability to the Maldives.
The visit is expected to pave the way for further collaboration between India and the Maldives, particularly in trade, security, and financial integration.
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