The correct answer is option 'C', Maldives.

EKUVERIN is a joint military exercise conducted between India and the Maldives. It is an annual bilateral military exercise aimed at enhancing interoperability and cooperation between the armed forces of both countries.

The exercise is conducted under the framework of the MoU on Defence Cooperation signed between India and Maldives in 2009. It is conducted alternatively in India and the Maldives. The previous edition of the exercise, EKUVERIN 2019, was held in the Maldives.

The exercise focuses on various aspects of military cooperation such as infantry tactics, combat operations, humanitarian assistance, disaster relief, and counter-terrorism operations. It involves joint training, demonstrations, and field exercises to enhance the understanding and coordination between the armed forces of both countries.

EKUVERIN holds significant strategic importance as it strengthens the bilateral defense relationship between India and the Maldives. It also helps in building mutual trust and understanding between the armed forces of both countries. The exercise provides an opportunity for the armed forces of India and the Maldives to learn from each other's experiences and best practices.

The defense cooperation between India and the Maldives has been growing steadily over the years. India has been providing military assistance and training to the Maldives to enhance its defense capabilities. EKUVERIN is one of the key components of this defense cooperation.

In addition to EKUVERIN, India also conducts various other military exercises with different countries to enhance regional security and cooperation. Some of these exercises include INDRA with Russia, MALABAR with the United States and Japan, and SAMPRITI with Bangladesh.

Overall, EKUVERIN is a significant exercise that strengthens the defense ties between India and the Maldives and promotes regional security and cooperation.