Union Minister of State for External Affairs and Parliamentary Affairs, His Excellency V. Muraleedharan
High Commissioner of India to the Maldives, His Excellency Munu Mahawar,
President of the Confederation of Indian Industry, Mr. Sanjiv Bajaj
Honourable Ministers and Business Representatives,
Distinguished Guests and Ladies and Gentlemen;
Good Evening.
I remember my first official visit abroad after taking office in 2018, which was to this country. We held important discussions together with Prime Minister Modi and cabinetministers from both sides in true Indian fashion – while experiencing the delicious Indian cuisine, rich culture and marvelous architecture. It made me realise how closely intertwined we are, through our people to people contact, our cultures and food, and not to mention our civilizational roots and historical links.
India has always been a reliable ally to the Maldives, through thick and thin. India is almost always, our first responder in times of crises, and is amongst the loudest supporters in times of good fortune. Which is why, my Administration’s ‘India First’ policy is so crucial to ensure that our longstanding ties continue to weather the test of time. It is during my Administration thus far, that we have reached the pinnacle of our diplomatic and economic relations. We have set an example to the rest of the world that countries as distinctive in resources and sizes, such as the Maldives and India can mutually benefit from supporting each other’s developmental aspirations. I take this opportunity to re-affirm my Government’s commitment to maintain and strengthen the close and friendly Maldives-India ties.
Excellencies,
Ladies and Gentlemen;
India has contributed enormously to the development of our economy by laying out a trajectory on which our multilateral trade and investments have continued to expand. Today, as we witness a surge in mega infrastructure projects in the Maldives, and many more on the way, it is befitting to thank the Indian Government for the generous grants and Line of Credit facilities extended by the Exim Bank of India for new levels of the development and prosperity unlocked in our nation.
My Administration has made a commitment to all Maldivians to deliver on our ambitious infrastructure development programme. With the help of friendly development partners, and in particular with India’s generous assistance, harbours, roads, water and sanitation networks, housing projects and other infrastructure development initiatives are beingcarried out across the Maldives in numbers never seen before, with many more in the pipeline.
Excellencies,
Ladies and Gentlemen;
Few decades back, the Maldives was amongst the 5 poorest countries in the world. Today, our economy has grown by leaps and is counted amongst the highest income per capita nations in South Asia. As I speak to you today, the Maldives is undergoing a dynamic transition. As we reel from the shock of COVID-19, the government envisions building back a more resilient, diversified and climate-friendly economy. We offer at your fingertips, a wide range of lucrative investment opportunities, ready to be tapped in.
Our most foremost industry, tourism, has had an impressive track record of bouncing back from unforeseen hardships. We have withstood the 1987 stock market crash, the 2004 tsunami, the 2008 the global financial crisis and most recently, the COVID-19 pandemic which halted global trade and travel. With the right measures, we have been able to mitigate the ill-effects of these upheavals. Our tourist arrivals today are forecasted to reach pre-pandemic levels in a relatively short period of time; and India remains the top tourist arrivals market for the Maldives.
Excellencies,
Ladies and Gentlemen;
Our commitment to sustainable development, involving the transition to renewable energy stems from our efforts to harmonize modern development, while shielding us from the destructive forces of climate change. Protecting our environment and rich biodiversity is essential to protecting our way of life and our identity, Jazeera Dhiriulhun, one that is harmonious with nature. Although relatively much smaller in size, the Maldives has been leading from the front in advocating for climate action. It is for this reason, and the urgency with which we must respond to this imminent calamity, that I have announced our plans to achieve net zero emissions by the year 2030. We look to our bilateral and private development partners to assist us reach this target. International cooperation is ever more necessary to help each other to follow through global climate goals.
Excellencies,
Ladies and Gentlemen;
Maldivians are well-known fisherfolks, and we have been for many centuries. Even today, we use the most sustainable method of catching fish, one by one, which we inherited from our ancestors. The Maldivian fishing industry is the world’s cleanest and greenest fishery. We are very keen to utilize the concessions afforded under SAFTA to explore opportunities in the Indian market to export our sustainable fish products. We welcome with open arms, Indian investments in our fishing industry.
Excellencies,
Ladies and Gentlemen;
Our kinship that goes back eons, and shared linguistic links draw our countries and peoples together, and allow for ample trade and investment opportunities to flow and flourish.
On that note, before I conclude, I once again invite Indian entrepreneurs to come to the Maldives, explore new avenues of cooperation, and establish your footprint in our development efforts. We shall continue to do our part to ensure a conducive business environment for our investors. I have here with me a delegation consisting of eminent industrial leaders, ministers and government officials to assure you that the Maldives is open for Corporate India. We thank you for your interest in the Maldives and for considering the Maldives as a potential destination for investment.
Let me once again thank the Government of India and CII for organizing this important forum and for facilitating this meeting between the Maldivian delegation and the best of Corporate India. I hope that the relations between the Maldives and India will continue to go from strength to strength with increased business to business interactions.
Thank you.