IBNS-CMEDIA: India and the Maldives have made “substantive progress” in the first round of negotiations for a proposed Free Trade Agreement (FTA), with the two sides holding text-based discussions across eight technical sessions covering eight policy areas, the Indian government said.
The negotiations were held virtually from June 29 to July 7.
India’s negotiating team was led by Chief Negotiator Ujjwal Kumar Ghosh, Joint Secretary in the Department of Commerce, while the Maldivian delegation was headed by its Chief Negotiator Yusuf Riza.
“During the first round, negotiating teams from both sides engaged in text-based discussions across eight technical sessions covering eight policy areas. Both sides made substantive progress across the negotiating tracks and reached broad convergence on several issues,” a government statement said.
On July 8, 2026, Union Commerce and Industry Minister Piyush Goyal met his Maldivian counterpart, Mohamed Saeed, Minister of Economic Development, Transport and Trade.
The ministers reviewed the progress of ongoing bilateral economic initiatives, including the India–Maldives FTA negotiations, the statement said.
As India and the Maldives commemorate 60 years of diplomatic relations, the two sides reaffirmed their commitment to expedite the conclusion of the Bilateral Investment Treaty (BIT) and the FTA.
They also agreed to deepen cooperation in tourism, startups, digital payments, MSMEs and trade to unlock new opportunities for both countries.
India is the Maldives’ second-largest trading partner. Bilateral trade between the two countries stood at USD 771.76 million in 2025–26, up from USD 679.70 million in 2024–25, registering growth of 13.54 percent.
The proposed FTA is expected to strengthen bilateral economic and trade ties by enhancing market access, facilitating investment and promoting greater economic cooperation.
Both sides are working towards a broad-based, balanced and comprehensive agreement guided by the principles of fairness and reciprocity.–
