In May 2025, Thiruvananthapuram, Kerala based HLL Lifecare Limited (formerly Hindustan Latex Limited), a Government of India (GoI) enterprise under the Ministry of Health & Family Welfare (MoH&FW) has signed a strategic agreement with the State Trade Organisation Plc (STO), a Government of Maldives enterprise responsible for the import and distribution of essential goods, under Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP), GoI’s flagship initiative aimed at providing affordable, high-quality medicines to the public.
- Under this agreement, India has pledged its support to Maldives by ensuring the supply of essential medicines through HLL Lifecare Limited.
- The agreement links HLL’s vast Janaushadi network, which facilitates more than 2,000 quality-assured generics and 300 surgical items, which will help Maldives to tap one of the world’s most efficient pharmaceutical supply chains.
Need of Agreement:
i.Over the last one year, the health system of Maldives has faced challenges with frequent stock-outs of important pharmaceuticals, disrupting patient care and placing major stress on Aasandha, the national health scheme of Maldives.
ii.99% of the availability of essential medicines was restored through Emergency imports by April 2025, but short-term solutions alone cannot ensure sustainable access.
About Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP):
i.It was launched in November 2008 by the Department of Pharmaceuticals (DoP) under the Ministry of Chemicals & Fertilizers (MoC&F), in collaboration with Central Pharma Public Sector Undertakings (PSUs).
- The scheme is being implemented through the Pharmaceuticals & Medical Devices Bureau of India (PMBI) under DoP.
ii.Under this scheme, quality medicines at affordable prices i.e. cost 50% to 80% less than branded medicines in the market, are provided to the public through dedicated outlets called Pradhan Mantri Bhartiya Janaushadhi Kendras (PMBJK).
- As of February 28 2025, total 15,057 Jan Aushadhi Kendras (JAKs) are operational in India.
iii.Jan Aushadhi Diwas (Generic Medicine Day) is annually observed on March 07 across India to raise awareness about the significance of generic medicines and to highlight the benefits of PMBJP.
India Extended Financial Support to Maldives via Rollover of USD 50 Million Treasury Bill
In May 2025, the GoI has extended its financial support to Maldives via the rollover of USD 50 million Treasury Bill for another one year. This reflects the robust friendship between two countries and supports the Maldives’ ongoing fiscal reforms.
- Mumbai (Maharashtra)-based the State Bank of India (SBI), India’s largest Public Sector Bank, has subscribed for one more year, a USD 50 million Government Treasury issued by the Ministry of Finance (MoF), following the request of the Government of Maldives.
Note: Treasury Bills (T-Bills) ‘rollover’ is a process of reinvesting the proceeds received from maturing T-bill into a new T-bill, effectively extending the investment term.
Key Points:
i.Since March 2019, the GoI has been providing subscription of various such Treasury Bills by the SBI and rolling them over, annually, interest-free to the Government of Maldives.
ii.Maldives is one of India’s key maritime neighbours and also an important partner in India’s ‘Neighbourhood First Policy’ and Vision ‘MAHASAGAR’ (Mutual and Holistic Advancement for Security and Growth Across Regions).
About Maldives:
President- Mohamed Muizzu
Capital- Malé
Currency- Maldivian Rufiyaa (MVR)
