New Delhi: Finance minister Nirmala Sitharaman will discuss deepening economic and financial cooperation with Bhutan during a short visit, leading an official delegation to the Himalayan nation from Thursday, the finance ministry said in a statement.
During the four-day visit, Sitharaman will visit projects being executed with Indian support, including hydropower plants.
Bhutan exports surplus power to India, its biggest trading partner. Sitharaman’s visit is significant as Bhutan is a key part of India’s ‘Act East’ policy aimed at boosting economic, strategic, and cultural ties with the Asia-Pacific region. Bhutan is not part of China’s Belt and Road Initiative.
India has been partnering with Bhutan’s planned development since the launch of its first five-year plan in 1961 and continues to be its primary development partner, according to information available from Bhutan’s embassy in New Delhi.
“Currently, India is not only Bhutan’s main development partner, but also its leading trade partner,” the embassy states.
Sitharaman will call on King Jigme Khesar Namgyel Wangchuck and Prime Minister Dasho Tshering Tobgay. She will also hold a bilateral meeting with her counterpart, Lekey Dorji, to discuss avenues for further strengthening India-Bhutan economic and financial cooperation, the ministry stated.
One of the projects the minister will visit is the 60MW Kurichhu hydropower plant.
Sitharaman will begin her tour on Thursday with a visit to the historic Sangchen Choekhor Monastery, founded in 1765 and home to over 100 monks engaged in advanced Buddhist studies.
As part of the visit, Sitharaman will also visit the Gyalsung Academy that runs a national service programme for the youth.
The minister will also attend presentations on key developmental initiatives in Bhutan, including the country’s energy sector, its economic road map, banking and financial sectors and the Gelephu mindfulness city project, which fosters conscious and sustainable businesses inspired by Buddhist spiritual heritage.
The finance minister will also visit a cottage and small industries market, where she will witness a transaction using India’s Unified Payments Interface (UPI), reflecting the growing digital and financial connectivity between the two nations, the statement said.
In the last segment of her official visit, Sitharaman will visit the Punakha Dzong — Bhutan’s second-oldest and second-largest fortress. The minister will also interact with Bhutanese farmers on their agricultural practices, challenges, and opportunities.
The visit is till 2 November.
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