India removes duty on oil exports to Maldives amid Hormuz Strait disruptions

India Waives Duty on Petroleum Exports to the Maldives

India has waived the Special Additional Excise Duty and Road and Infrastructure Cess on petroleum exports to the Maldives, according to an Indian government gazette notification.

India has waived key duties on petroleum products exported to the Maldives, according to a notification published in the Indian government gazette. The decision removes the Special Additional Excise Duty (SAED) and the Road and Infrastructure Cess (RIC) on oil exports to the Maldives.

The Indian High Commission in Male confirmed the move in a social media post on July 2, 2026. The post described the waiver as part of "Neighbourhood First" cooperation, coinciding with 60 years of India-Maldives diplomatic relations.

India previously extended similar duty exemptions to Sri Lanka, Bhutan, Nepal and Bangladesh. The Maldives has now been added to that list following an amendment to India's duty regulations.

The Maldivian government has not officially commented on the development.

The Maldives typically sources most of its petroleum products from Middle Eastern countries. Oman, Singapore, Malaysia and the United Arab Emirates are currently the largest suppliers of oil to the Maldives.

However, ongoing conflict around the Strait of Hormuz has disrupted Middle Eastern trade routes and affected the global energy sector. Amid this disruption, the Maldives has held discussions with India regarding potential oil purchases, though no formal agreement has been announced.

India does not currently export petroleum products to the Maldives on a regular basis.

India Waives Duty on Petroleum Exports to the Maldives

Leave a comment

Comments

Latest News