The first ever India Maldives Developers Conclave was organised by the High Commission of India in Male’ on March 5, 2024. More than 100 heads and representatives of Maldivian and Indian companies from the construction industry, SOEs and banks attended the event. The aim of the event was to further boost linkages between Indian and the Maldivian companies in the construction sector. The construction sector is a growing sector in Maldives and the need of new housing, warehousing and resort development is ever increasing. Indian companies- suppliers, contractors as well as developers have been present in Maldives for a long time and have the requisite experience to execute contracts in a time bound and efficient manner. 

The High Commissioner in his welcoming remarks said that India’s growth presents a huge opportunity for the world, particularly for its neighbours and that the Government of Maldives has announced a very ambitious infrastructure development programme and that he hoped that Indian businesses and their partners in Maldives will make full use of these opportunities.

The Conclave included three panel discussions ranging from challenges faced in sourcing and supplies, the competitive advantage of Indian companies in Maldives; how the new and latest technology owned by Indian companies can lead to environment friendly and fast execution of projects in Maldives; as well as on the logistical challenges and way to address them. A useful presentation by Shipping Corporation of India delved into the advantages of the direct shipping service between India and Maldives and also spoke about the need for diversification of trade for creating more such linkages. The panelists also spoke about the need for a convenient direct payment settlement mechanism between the two countries so that the dependence on dollars can be avoided. The conclave concluded with useful business-to-business discussions between Indian and Maldivian companies.