India, July 25 -- India on Friday unveiled new measures to bolster the economy of the Maldives, including a rupee-denominated credit line of Rs.4,850 crore and a reduction in annual debt repayment obligations, with Prime Minister Narendra Modi asserting that New Delhi is the most trusted friend of the Indian Ocean archipelago.

On his arrival in the Maldives earlier in the day, Modi was received at the airport by President Mohamed Muizzu and key members of his cabinet. The visit marked another step in the turnaround of bilateral ties, which were hit when Muizzu came to power in late 2023 on an "India Out" campaign and sought to move the Maldives closer to China.

During talks between Modi and Muizzu, the two sides agreed to launch negotia...