As the Maldives celebrated its 56th Republic Day on Monday, President of India Droupadi Murmu extended greetings to President Mohamed Muizzu, his government, and the people on the occasion.
In a post on X, the High Commission of India said, “On the occasion of 56th Republic Day of the Maldives, President of India Droupadi Murmu extended warm greetings to President of Maldives Mohamed Muizzu, the Government & the friendly people of Maldives.”
Maldivian President visited India earlier in October this year, marking a pivotal moment in reinforcing the bonds of friendship, trust, and partnership between both the countries.
Following Muizzu’s state visit to India in October, the Maldives decided introduce the Unified Payment Interface (UPI), a digital public infrastructure developed by India, into its financial system. This decision was endorsed by Muizzu’s cabinet and reflects the Maldivian President’s aim to expand digital infrastructure, enhance financial inclusion, and improve transaction efficiency.
The introduction of UPI, along with India’s commitment to sharing expertise in digital and financial services, aligns with Muizzu’s economic vision for his nation.
The Maldivian administration will establish a consortium, with TradeNet Maldives Corporation Limited as its leading agency, to oversee the rollout of UPI in collaboration with banks, telecom firms, and other key players. An interagency team, led by the Ministry of Economic Development and Trade and including officials from the Ministry of Finance and the Maldives Monetary Authority, will coordinate efforts to implement this framework effectively.
During Muizzu’s October visit, India also launched RuPay cards in the Maldives, aimed at facilitating payments for Indian tourists and Maldivians visiting India.
This step is part of broader efforts to enhance bilateral digital cooperation, marking a new era in financial connectivity between the two nations.
India and the Maldives share a long-standing, multifaceted relationship rooted in common cultural, linguistic, and economic ties. Under India’s
“Neighbourhood First” policy, the Maldives plays a strategic role in the Indian Ocean Region, with both nations committed to maintaining regional stability and security.
