India Maldives FTA 2026 — First Round Done

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India Maldives Free Trade Agreement 2026 First Round Negotiations Concluded — EXIM News 24

India Maldives FTA 2026 — First Round Done

India and the Maldives have completed the first round of Free Trade Agreement negotiations — eight technical sessions held virtually from June 29 to July 7 2026. Both sides made substantive progress and reached broad convergence on several issues across eight policy areas.

India is already the second largest trading partner of the Maldives. Bilateral trade between the two countries stood at USD 771.76 million in 2025-26 — up 13.54 percent from USD 679.70 million in 2024-25. If concluded, the FTA is expected to improve market access for Indian exporters across goods, services, investment, and digital trade.

What Happened — First Round of Negotiations

The first round of India-Maldives FTA negotiations was 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, Department of Commerce. The Maldives delegation was led by its Chief Negotiator Mr Yusuf Riza.

Officials from both countries held eight technical sessions covering eight policy areas. The PIB release confirms that both sides made substantive progress across the negotiating tracks and reached broad convergence on several issues. Both sides said they aim to negotiate a balanced and comprehensive agreement based on fairness and mutual benefit. 

Quick Facts — India Maldives FTA 2026

ItemDetails
First Round PeriodJune 29 to July 7 2026 — virtual mode
Sessions HeldEight technical sessions across eight policy areas
India Chief NegotiatorMr Ujjwal Kumar Ghosh — Joint Secretary, Department of Commerce
Maldives Chief NegotiatorMr Yusuf Riza
Bilateral Trade 2025-26USD 771.76 million — up 13.54% from 2024-25
India's PositionSecond largest trading partner of Maldives
Ministerial MeetingPiyush Goyal met Maldives Minister Mohamed Saeed on July 8 2026
Diplomatic Relations60 years of India-Maldives diplomatic relations in 2026

Ministerial Meeting — July 8 2026

On July 8 2026 Union Minister of Commerce and Industry Piyush Goyal met his Maldivian counterpart Mohamed Saeed, Minister of Economic Development, Transport and Trade of the Maldives. The two ministers reviewed the progress of ongoing bilateral economic initiatives including the FTA negotiations. Both sides reaffirmed their commitment to expedite the conclusion of both the Bilateral Investment Treaty and the Free Trade Agreement.

The ministers also agreed to deepen cooperation in tourism, startups, digital payments, MSMEs and trade — The discussions also covered cooperation beyond goods trade, including tourism, startups, digital payments, MSMEs, and investment.

What an India-Maldives FTA Would Mean for Indian Exporters

The Maldives is a small but strategically important market for Indian exports. The country imports heavily — food products, construction materials, pharmaceuticals, electronics, textiles and consumer goods — and India is already a dominant supplier. An FTA would reduce or eliminate tariffs on Indian goods entering the Maldives, giving Indian exporters could become more price-competitive compared with suppliers from China, Sri Lanka, and other countries.

For sectors like pharmaceuticals, food processing, textiles and electronics — which already export to the Maldives — preferential tariff access would directly improve margins and competitiveness. For new exporters looking to enter the Maldives market, the FTA would lower the entry barrier significantly.

The digital payments and MSME cooperation angle is also significant. India's UPI infrastructure is already operational in the Maldives. An FTA framework covering digital trade would formalize and expand that footprint .This could create additional business opportunities for Indian fintech companies, IT firms, and MSME exporters.

Where Things Go Next

The first round is complete. Both sides have committed to expediting the conclusion of the agreement. The second round of negotiations will build on the convergence reached in the eight policy areas covered in round one. No timeline for conclusion has been officially stated but the ministerial level commitment from both Piyush Goyal and Mohamed Saeed shows that both governments remain committed to moving the negotiations forward.

India is currently running multiple FTA negotiations simultaneously — with the US, UK, EU, ASEAN under AITIGA review and now Maldives. Compared with several of India's other ongoing FTA negotiations, discussions with the Maldives are progressing relatively quickly because the scope of trade between the two countries is more limited.

📌 Source: PIB Delhi | Ministry of Commerce and Industry | Release ID 2284467 | July 14 2026