India-Bhutan to strengthen bilateral trade and investment, including push for Gelephu

India and Bhutan affirmed their commitment to bolstering trade and investment ties, particularly in light of Bhutan’s plans to develop the Gelephu Special Administrative Region (SAR). This initiative, spearheaded by the King of Bhutan, aims to enhance regional economic connectivity.

A joint statement issued at the end of the day emphasized the importance of strengthening economic linkages, especially through private sector engagement, to foster sustainable economic connectivity and nurture economic partnerships between India and Bhutan. This initiative seeks to bring the people of both countries closer and promote mutually beneficial economic cooperation.

The Gelephu SAR, located approximately 200 kilometres southeast of Thimphu and adjacent to India’s border in Assam, envisions the development of a “Mindfulness City.” Inspired by Bhutan’s Buddhist spiritual heritage and unique identity, the SAR aims to cultivate conscious and sustainable businesses, reflecting Bhutan’s values and ethos.

India and Bhutan also announced to pursue a transformative partnership that advances the unique and special relations between the two countries and said, the development partnership is a confluence of India’s approach of ‘Sabka Saath, Sabka Vikas, Sabka Vishwas’ and the philosophy of Gross National Happiness in Bhutan.

“We will continue to expand our development partnership in line with the priorities of the people and the Government of Bhutan, and the vision of His Majesty,” the joint statement said.

The transformative partnership includes “promoting connectivity in its broadest form physical connectivity through rail links, roads, air, waterways, trade infrastructure for seamless cross-border movement of goods and services, economic as well as digital connectivity,” the statement said.

Since Bhutan’s First Five Year Plan in 1961, India’s development partnership with Bhutan has been “empowering the people and ensuring development across sectors and regions,” it said, adding that the excellent people-to-people relations provide the foundation for our exceptional bilateral ties.

With inputs from PTI.