The Indian government has reduced tariffs on oil products exported to the Maldives, according to an amendment published in its official gazette.
Under the revised Duty Act, special additional excise duty and road and infrastructure cess on oil exports to the Maldives have been removed. The move places the Maldives alongside countries such as Sri Lanka, Bhutan, Nepal, and Bangladesh that already receive similar concessions.
The decision comes as global energy markets face pressure due to geopolitical tensions, including risks in the Strait of Hormuz. While the Maldives currently imports oil mainly from Oman, Singapore, Malaysia, and the UAE, the move is expected to open new opportunities for imports from India and strengthen the country’s energy security.
