External Affairs Minister Salman Khurshid moved the proposal to remove the Maldives from the agenda of The Commonwealth Ministerial Action Group (CMAG).
The CMAG had placed the Maldives on its agenda - implying its suspension from the panel - on Wednesday after the country failed to elect a new President before the constitutional deadline of November 11.
The Commonwealth Ministers welcomed the successful conclusion of the presidential election and noted the interim statement of the Commonwealth Observer Group, which stated that the election had been "credible and peaceful".
"Ministers therefore decided to remove Maldives from CMAG's formal agenda."
The group conveyed their best wishes to the new President.
Addressing the CMAG, Khurshid said the conclusion of the electoral process in the Maldives is a matter of satisfaction to the international community.
India, which was today reelected to the CMAG after its reconstitution, said "it looks forward to cooperating closely with the new President and his government".
After an annulled election result and two cancelled polls, foreign diplomats had increasingly come to view the delays as politically inspired.
Western diplomats had threatened international isolation unless the Maldives allowed its people to freely elect a leader.
Maldives has witnessed political turmoil since former President Mohamed Nasheed resigned under duress in February 2012 in a controversial transfer of power.
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