India and the Maldives have finalised a framework to promote the use of local currencies for cross-border trade, marking a significant development in bilateral economic cooperation. External Affairs Minister S. Jaishankar, during his meeting with Maldivian Foreign Minister Abdulla Khaleel in New Delhi, reiterated India's unwavering commitment to the island nation, describing it as a vital part of India’s “Neighbourhood First” policy.

Khaleel, who is on a three-day visit to India, arrived on Thursday to explore avenues for strengthening ties in key sectors such as maritime security, trade, and investment. Addressing the media following the meeting, Jaishankar highlighted the progress in bilateral relations, noting the newly signed framework for the use of local currencies in cross-border transactions.