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India confirms increased support for Bhutan’s 13th Five Year Plan

by London 24/7
March 16, 2024
in Finances

Bhutanese Prime Minister Tshering Tobgay and Indian Prime Minister Narendra Modi recently held a bilateral meeting to discuss various development projects and initiatives aimed at boosting Bhutan’s economy. The meeting, which took place in New Delhi, was a testament to the strong and enduring friendship between the two neighboring countries.

During the meeting, PM Tobgay expressed his gratitude to PM Modi for India’s continuous support and assistance in Bhutan’s socio-economic development. He also highlighted the successful implementation of various projects in Bhutan, such as the Mangdechhu hydroelectric project and the Bhutan-India Friendship Motor Rally, which have strengthened the bond between the two nations.

PM Modi, on the other hand, praised Bhutan’s progress in achieving its development goals and reaffirmed India’s commitment to further enhance the bilateral ties. He also commended Bhutan’s efforts in preserving its unique culture and environment, which has made the country a role model for sustainable development.

One of the major topics of discussion was Bhutan’s economic stimulus programme, which aims to revive the country’s economy and mitigate the impact of the COVID-19 pandemic. PM Tobgay shared the details of the programme, which includes measures to support small and medium enterprises, boost tourism, and promote agriculture and rural development.

PM Modi lauded Bhutan’s proactive approach in tackling the economic challenges posed by the pandemic and assured India’s full support in the implementation of the economic stimulus programme. He also emphasized the importance of regional cooperation and expressed his willingness to work closely with Bhutan to promote trade and investment in the region.

The two leaders also discussed the ongoing hydropower projects in Bhutan, which have been a cornerstone of the bilateral relationship between the two countries. PM Tobgay expressed his appreciation for India’s financial and technical assistance in these projects, which have not only provided clean energy to Bhutan but also generated revenue for the country’s development.

PM Modi reiterated India’s commitment to continue supporting Bhutan’s hydropower sector and explore new avenues for cooperation in the field of renewable energy. He also highlighted the potential for collaboration in other sectors such as healthcare, education, and information technology, which can further strengthen the economic ties between the two nations.

The meeting also saw discussions on the importance of connectivity in promoting regional integration and economic growth. PM Tobgay expressed his gratitude for India’s assistance in the construction of the East-West highway, which has significantly improved connectivity within Bhutan and with India. He also highlighted the need for further cooperation in developing air and digital connectivity between the two countries.

PM Modi assured Bhutan of India’s continued support in enhancing connectivity and promoting people-to-people exchanges. He also announced the launch of a new direct flight between Guwahati and Paro, which will further facilitate travel and trade between the two countries.

The meeting between PM Tobgay and PM Modi was not just limited to discussions on development projects and economic cooperation. The two leaders also reaffirmed their commitment to work together on global issues such as climate change and sustainable development. They also discussed the importance of cultural exchanges in strengthening the bond between the two countries.

In conclusion, the meeting between PM Tobgay and PM Modi was a reaffirmation of the strong and enduring friendship between Bhutan and India. The discussions on development projects and economic cooperation have further strengthened the ties between the two nations and will pave the way for a brighter and more prosperous future for both countries. With the unwavering support and cooperation of India, Bhutan is well on its way to achieving its development goals and becoming a shining example of sustainable development for the world.

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