India to aid Maldives in Thilafushi port development

Prime Minister Narendra Modi announced India's readiness to assist in the construction of an international trade port in Thilafushi, marking a significant milestone in the growing cooperation between India and the Maldives. This declaration came during official talks between President Mohamed Muizzu and Prime Minister Modi as part of President Muizzu's state visit to India.

In a joint statement following the discussions, Prime Minister Modi emphasized India's long-standing commitment to aiding the Maldives in its infrastructure development. India has already played a pivotal role in various Maldivian projects, and Modi confirmed that this partnership would persist. Highlighting India's involvement in the development of the Greater Male’ Connectivity Project, also known as the Thilamale' Bridge project, he noted that efforts would be accelerated to bring these ventures to fruition.

Prime Minister Modi also reiterated India's support for the construction of the Thilafushi International Trade Port, a crucial infrastructure project initially slated for Gulhi Falhu. Due to the strategic benefits of Thilafushi, the project has been shifted to this new location, and Modi affirmed India's readiness to assist in its successful implementation under the Indian line of credit.

A key highlight of President Muizzu’s visit was the inauguration of the new runway at Hdh. Hanimaadhoo International Airport, which he and Prime Minister Modi officiated. This project, which also falls under the Indian credit line, is expected to boost the connectivity and economic potential of the northern atoll region, particularly in agriculture and trade.

Modi acknowledged the importance of the Hdh. Atoll as a growing agricultural and economic zone, and stressed that India would continue to support regional development efforts.

Furthermore, the two leaders discussed potential collaborations in oceanography and the blue economy, areas critical to the Maldives' sustainable development.

The talks between President Muizzu and Prime Minister Modi extended beyond infrastructure projects. Discussions included the establishment of a transshipment facility in the Maldives, aimed at boosting regional trade, and exploring opportunities for expanding banking services in the country. Both leaders agreed to discuss a free trade agreement, which could further enhance economic ties between the two nations.

One of the notable topics raised was the possibility of conducting trade transactions in local currencies, a move that could simplify trade processes and strengthen economic bonds.

Prime Minister Modi’s commitment to accelerating projects such as the Thilamale' Bridge and the Thilafushi International Trade Port demonstrates India’s strategic interest in strengthening its relationship with the Maldives. This partnership, rooted in mutual benefit, is set to advance key sectors in the Maldives, from infrastructure and trade to banking and the blue economy.

As President Muizzu continues his diplomatic engagement with India, it is clear that both nations are eager to explore new avenues of cooperation and deepen their long-standing ties. With India's support, the Maldives is poised to achieve significant economic growth and regional connectivity in the years to come.