India and Bhutan share a unique and exemplary bilateral relationship, which is based on mutual trust, goodwill, and understanding. The two countries established formal diplomatic ties in 1968, with the cornerstone being the Treaty of Friendship and Cooperation, signed in 1949, and subsequently renewed in February 2007.

Over the years, high-level exchanges have played a pivotal role in nurturing the strong bond between India and Bhutan. The King of Bhutan, Jigme Khesar Namgyel Wangchuck, has made several visits to India, underscoring the close ties between the two nations. His last visit to India was in November 2023.

 

 

 

Read Also : NTPC-NPCIL Joint Venture 'ASHVINI' gets Govt approval

The economic partnership between India and Bhutan has flourished over the years, driven by the India-Bhutan Agreement on Trade, Commerce, and Transit. This agreement, first signed in 1972 and revised multiple times, has facilitated a free trade regime between the two countries, promoting bilateral trade and economic growth. India stands as Bhutan’s top trade partner, both in terms of imports and exports.

 

Read Also : RBI imposes penalty of Rs. 10.4 lakhs on HP Financial Services

India has been a steadfast development partner for Bhutan, extending economic assistance to support its socio-economic progress since the 1960s. India’s contribution to Bhutan’s 12th Five Year Plan, amounting to Rs 5000 Cr., underscores its commitment to supporting Bhutan’s developmental aspirations.

Read Also : Govt introduces strict EC guidelines for violations of battery waste rules