Key Outcomes of Maldives President's Visit to India include

• Both sides announcedadoption of vision for comprehensive economic and maritime security partnership which encompasses- 
  • Development Cooperation: Agreed to support timely completion of Greater Malé Connectivity Project, etc. 
  • Trade and economic cooperation: Initiate discussions on Bilateral Free Trade Agreement; both sides agreed to operationalize settlement of trade transactions in local currencies to reduce dependency on foreign currencies etc.
  • Digital and financial initiatives: Launch of RuPay card in Maldives will enhance ease of payments for Indian tourists visiting Maldives etc.
  • Health cooperation: To work towards recognition of Indian pharmacopoeia by Government of Maldives, followed by establishment of India-Maldives Jan Aushadhi Kendras across Maldives etc.
• Both sides signed Currency Swap Agreement (CSA) of USD 400 million and INR 30 billion to help Maldives in managing their foreign exchange reserves.
  • It was signed under SAARC Currency Swap Framework 2024-27.
  • CSA is a contract under which two counterparties agree to exchange two currencies at a set rate and then to re-exchange those currencies at an agreed upon rate at a fixed date in future.
    • Earlier, India had signed CSA with Sri Lanka, Japan etc.