India has waived key export duties on petroleum products supplied to the Maldives, a move expected to facilitate fuel exports from India to the country.

The Indian Government has exempted petroleum exports to the Maldives from the Special Additional Excise Duty (SAED) and the Road and Infrastructure Cess (RIC), extending concessions previously granted to several neighbouring countries.

The High Commission of India in the Maldives described the measure as a special gesture, announcing that the duty exemptions would apply to petroleum products exported to the Maldives.

The development comes as the Maldives explores alternative fuel supply options amid heightened uncertainty in global energy markets following disruptions affecting energy supply routes through the Strait of Hormuz.

The Maldives currently imports most of its petroleum products from Oman, Singapore, Malaysia and the United Arab Emirates.