The India-Maldives Developers Conclave, organized by the High Commission of India in Male’, was held last night with over 100 heads and representatives from the construction industry, state-owned enterprises (SOEs), and banks from both nations in attendance.
The event aimed to strengthen ties between Indian and Maldivian companies within the construction sector, recognising the growing demand for infrastructure development in the Maldives.
With the construction sector witnessing rapid expansion in the Maldives, the conclave served as a platform to address the increasing need for new housing, warehousing, and resort developments.
In his welcoming remarks, the High Commissioner underscored India’s economic growth as a significant opportunity for neighbouring countries, emphasizing the ambitious infrastructure development program outlined by the Maldivian government. He expressed optimism that Indian businesses and their Maldivian partners would capitalize on these opportunities to mutual benefit.
The conclave featured three panel discussions which covered topics such as challenges in sourcing and supplies, the competitive advantage of Indian companies in the Maldives, the integration of advanced technology for eco-friendly and efficient project execution, and strategies to address logistical challenges.
A presentation by the Shipping Corporation of India highlighted the benefits of direct shipping services between India and the Maldives, advocating for the diversification of trade to foster stronger bilateral linkages. Panelists also stressed the necessity of establishing a convenient direct payment settlement mechanism between the two countries, aimed at reducing dependence on the US dollar.
The event concluded with business-to-business discussions, facilitating direct engagement between Indian and Maldivian companies and laying the groundwork for future collaborations.
