India and the Maldives have established a framework to enhance the use of local currencies in cross-border trade. External Affairs Minister S. Jaishankar emphasized India’s steadfast support for the Maldives during his meeting with Maldivian Foreign Minister Abdulla Khaleel in Delhi. Khaleel is on a three-day visit aimed at strengthening bilateral relations in crucial areas such as maritime security, trade, and investment with India.
Jaishankar stated, “I observe that the framework promoting local currency use for cross-border transactions has been finalized.” He further remarked, “Our engagement across various sectors has increased, and I want to affirm that India has consistently supported the Maldives. You exemplify our ‘neighbourhood first’ policy.”
The Maldives remains a vital maritime neighbor for India in the Indian Ocean Region, with strong bilateral ties extending to defense and security sectors.
