Shillong: India and the Maldives finished the first round of negotiations for a new Free Trade Agreement. The talks aim to pump up bilateral trade and investment. India holds its spot as the second-largest trading partner for the island nation.
Trade between the two countries reached $771.76 million in 2025-26. This jumped from $679.70 million in 2024-25, showing a growth rate of 13.54 percent. Negotiating teams knocked out eight technical sessions over eight policy areas. Both sides found broad convergence on several issues during these text-based meetings.
Ujjwal Kumar Ghosh, a Joint Secretary in the Department of Commerce, led the Indian team. Yusuf Riza served as the chief negotiator for the Maldives. Commerce Minister Piyush Goyal met with Mohamed Saeed, the Maldivian Minister of Economic Development, Transport and Trade, last week. The two ministers reviewed the progress of these ongoing economic initiatives.
As the countries celebrate 60 years of diplomatic ties, officials pledged to speed up the Bilateral Investment Treaty and the FTA. The nations plan to expand cooperation in tourism, startups, digital payments, and MSMEs. The government stated: "Both sides are working towards a broad-based, balanced and comprehensive agreement guided by the principles of fairness and reciprocity." Officials expect the final deal to improve market access and promote sustainable economic growth for both parties.
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