India investment treaty concluded, trade deal fast-tracked: Minister Saeed

Minister of Economic Development, Transport, and Trade Mohamed Saeed said negotiations for a Bilateral Investment Treaty (BIT) between the Maldives and India have concluded. He said the two countries have fast-tracked talks on a separate Free Trade Agreement (FTA).

Saeed made the comments in an interview with India's WION News, published July 13. The interview followed his meetings with India's Minister of Commerce and Industry, Piyush Goyal, in New Delhi last week.

Saeed described the talks with Goyal as "highly productive." He said they reaffirmed both countries' commitment to expanding their economic partnership.

What the deals cover

Saeed said the FTA would give Maldivian businesses preferential access to the Indian market. He named fisheries, value-added seafood products, marine industries, digital services, and creative industries as sectors that stand to benefit.

He said the agreement would also help small and medium-sized Maldivian enterprises compete internationally and integrate into regional supply chains.

On the investment treaty, Saeed said it would provide a "transparent, predictable, and rules-based framework" for investors. He said this could encourage Indian investment in Maldivian tourism, logistics, healthcare, education, renewable energy, and the digital economy.

Saeed linked the digital economy discussions to President Dr. Mohamed Muizzu's stated goal of raising the sector's share of Maldivian GDP to 33 percent. He said the FTA talks also touched on improving air connectivity between the two countries to support tourism and on streamlining customs procedures and cutting trade barriers.

Neither Saeed nor WION News gave a timeline for when the FTA text would be finalized or published.

Background

The interview comes after formal negotiating rounds between Maldivian and Indian officials, which India's Ministry of Commerce and Industry said were held virtually from June 29 to July 7, 2026. Both governments have said they aim to conclude the FTA by the end of 2026.

The FTA process began during President Muizzu's 2024 visit to India and was reinforced by business forums in New Delhi, Mumbai, and Bengaluru during that trip, according to Saeed. Prime Minister Narendra Modi later visited the Maldives, a visit that coincided with the exchange of agreements covering areas including fisheries, digital transformation, and payments systems.

The Maldives has signed trade agreements with other partners recently. Its FTA with China took effect in January 2025. Saeed has previously cited it as an example of an agreement creating market access beyond tariff cuts, pointing to Maldivian access to Chinese e-commerce platforms. A preferential trade agreement with Türkiye was signed in November 2025.

India is one of the Maldives' largest trading partners. This year marks 60 years of diplomatic relations between the two countries.

Note on verification

The text of both the BIT and the FTA remains unpublished, so their commercial and legal effects on Maldivian businesses cannot be independently verified at this stage. Saeed's characterization of the agreements' benefits reflects his assessment as the responsible minister, not a finalized or independently confirmed outcome.