On Sunday, it was announced that External Affairs Minister S Jaishankar of India and Maldives have signed a deal to introduce the Unified Industrial Index (Unified Payment Interface) in the archipelagic country.
Mr. Jaishankar is on a three-day official visit to the Maldives.
X Jaishankar said: “Witnessed the signing of a Memorandum of Understanding between National Payments Corporation of India and Ministry of Economic Development and Trade of Maldives on introduction digital payment system in Maldives.”
Earlier, he also said during his interaction with media after “productive discussions” with his counterpart Musa Zameer that India’s Unified Payments Interface (UPI) has brought about a “revolution in digital payments”.
“This revolution occurs everyday in our lives. I am happy that we have taken the first step towards bringing this digital innovation to the Maldivian people by signing an MoU today,” he noted.
In addition, he added, “I look forward to seeing the first UPI transaction taking place here soon and wish all parties involved great success. It should be noted that it will significantly contribute to improving tourism industry.”
At the same time, Zameer pointed out that “India has always been one of our closest friends and an important development partner.”
He also said that this “lasting friendship” was based upon mutual trust and respect which had grown over time.
“Our senior level engagements have deepened our dialogue as well as cooperation in areas we hold mutually interesting. We will strive hard making sure we consolidate as well as advance this mutually beneficial partnership,” He went on.
He also mentioned President Muizu’s proposal for negotiating a free trade agreement between Maldives and India. “Trade liberalization would be promoted through such an agreement besides other trade related agreements thus mitigating business risks between two countries”, Zamir said
Last year, Indian military personnel were asked by President Muizu to withdraw from three aviation platforms in Maldives, thus straining India-Maldives relations. By May 10, the date agreed upon replacement with civilian staff was reached.
