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Maldives offers excellent business opportunities for Indian MSMEs

Updated: Feb 18, 2019 08:39:44am

Maldives offers excellent business opportunities for Indian MSMEs

New Delhi, Feb 18 (KNN) With return of political stability, the economy of Maldives is booming and the influx of foreign tourists is set to cross over 2 million in 2019.

According to Abdul Latheef President of SME & Entrepreneurship Federation of Maldives (SEFM) not just the tourists, Maldives offers an attractive market for Indian goods and services as Maldives’ economy is totally dependent on imports.

Latheef who was leading a multi-sector delegation of SEFM, held detailed discussions with its counterpart in India- Federation of Indian Micro and Small & Medium Enterprises (FISME) in New Delhi, to enhance bilateral trade especially between SMEs.

The Indian delegation was led by Former FISME President and Hon. Counsellor of Rwanda (Bangalore) H.E. Mr. Mohan Suresh.

The SEFM delegation comprised of SMEs from sectors such as Tours and Travels, Construction, IT and logistics among others.

After change of guard in Maldives following elections in September 2018, the Government of the Joint Opposition Coalition candidate Ibrahim Mohamed Solih, considered favourable to India, the prospects of impetus in bilateral trade has increased.   

The SEFM is even holding an India specific Trade Fair- India Expo, in September 2019  to help Indian SMEs showcase their products and services to businesses of Maldives.

“Even an egg could be as expensive in Maldives as US$ 6 a dozen. Indian MSMEs could export everything from items of daily use such as food products, medicines, handicrafts, garments or invest in service sector like banking and finance and hotels” mentioned members of delegation.       

‘The beaches of Maldives are considered one of the finest in the world and are ready to welcome more Indians as Indian’s don’t require visa to enter Maldives..  further large number of budget hotels and BnB type of accommodation have been added recently in Maldives to cater to tourists of all categories’, added Mohamed Abdul Sattar General Secretary of SEFM.

While Maldives exports to India is negligible, India’s exports to Maldives exceeds US$ 200 million 2017. (KNN Bureau)


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