EconomyPIB14 July 2026

First Round of India–Maldives Free Trade Agreement Negotiations Concludes Successfully

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📌 Summary:

First round of the India–Maldives Free Trade Agreement (FTA) negotiations concluded successfully; held virtually from 29 June to 7 July 2026 across eight technical sessions covering eight policy areas
India's team led by Chief Negotiator Ujjwal Kumar Ghosh (Joint Secretary, Dept of Commerce); Maldives led by Yusuf Riza; both sides reached broad convergence on several issues
On 8 July 2026, Commerce Minister Piyush Goyal met Maldivian counterpart Mohamed Saeed; agreed to expedite both the FTA and the Bilateral Investment Treaty (BIT)
India is the second-largest trading partner of the Maldives; bilateral trade rose to USD 771.76 million in 2025–26 from USD 679.70 million in 2024–25 (13.54% growth)
2026 marks 60 years of India–Maldives diplomatic relations; cooperation to deepen in tourism, startups, digital payments, MSMEs and trade
FTA aims at a broad-based, balanced and comprehensive agreement to enhance market access and investment, guided by fairness and reciprocity

🎯 UPSC Relevance: GS2 IR — Neighbourhood First policy, trade diplomacy, FTAs; links to GS3 economy (external trade)

📝 Prelims Facts:

🔑 Key Term: Free Trade Agreement (FTA) — a pact between countries to reduce or eliminate tariffs and barriers on trade in goods and services.

India-MaldivesFTATradeNeighbourhood First

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