India-Maldives FTA First Round Negotiations Conclude Successfully
The first round of negotiations for the India-Maldives Free Trade Agreement (FTA) concluded successfully, held in virtual mode from June 29 to July 7, 2026. India's negotiating team was led by Chief Negotiator Mr. Ujjwal Kumar Ghosh, Joint Secretary of the Department of Commerce, while the Maldives delegation was led by its Chief Negotiator Mr. 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, indicating significant advancement in the trade talks.
On July 8, 2026, Union Minister of Commerce and Industry Shri Piyush Goyal met with his Maldivian counterpart, Mr. Mohamed Saeed, Minister of Economic Development, Transport and Trade of the Maldives. The ministers reviewed the progress of ongoing bilateral economic initiatives, including the India-Maldives FTA negotiations. As both countries commemorate 60 years of diplomatic relations, they reaffirmed their commitment to expedite the conclusion of both the Bilateral Investment Treaty (BIT) and the Free Trade Agreement (FTA).
The ministers also agreed to further deepen cooperation in multiple sectors including tourism, startups, digital payments, MSMEs, and trade to unlock new opportunities for both countries. India is the second-largest trading partner of the Maldives, with bilateral trade between the two countries standing at $771.76 million in 2025-26, compared to $679.70 million in 2024-25, registering a growth of 13.54 percent.
The proposed FTA is expected to strengthen bilateral economic and trade relations by enhancing market access, facilitating investment, promoting greater economic cooperation, and contributing to sustainable economic growth in both countries. Both sides are working towards a broad-based, balanced, and comprehensive agreement guided by the principles of fairness and reciprocity.