Foreign Secretary Vikram Misri to undertake 2-day visit to Bhutan from today

New Delhi, July 18: Vikram Misri, the newly appointed Foreign Secretary of India, will undertake his first official visit abroad by traveling to Bhutan from July 19-20.

During this visit, he will have an audience with His Majesty The King of Bhutan and will engage with key Bhutanese leaders, including the Prime Minister and the Minister of Foreign Affairs and External Trade. Additionally, he will meet with Bhutan's Foreign Secretary and other senior officials.

The visit will feature the India-Bhutan Development Cooperation Talks, commonly known as 'Plan Talks,' which Misri will co-chair with his Bhutanese counterpart. This visit aligns with the tradition of regular high-level exchanges between India and Bhutan and highlights India's commitment to its 'Neighbourhood First' Policy.

India and Bhutan share a unique and exemplary bilateral relationship rooted in mutual trust, goodwill, and understanding. The formal diplomatic ties between the two countries were established in 1968, with the foundational Treaty of Friendship and Cooperation signed in 1949 and renewed in 2007.

In 2022, India's bilateral trade with Bhutan amounted to INR 11,178 crores. India's exports to Bhutan totalled INR 8,509 crores, while imports from Bhutan stood at INR 2,669 crores. India is also the leading source of foreign investments in Bhutan, contributing 50% of the country’s total FDI.

Approximately 30 Indian companies operate in Bhutan across various sectors, including banking, manufacturing, electricity generation, agri/food processing, ITES, pharmaceuticals, hospitality, and education. Notable Indian companies in Bhutan include Punjab National Bank, State Bank of India, Tata Power Company Ltd., and Apollo Educational Infrastructure Services, among others.

India has supported Bhutan’s socio-economic development since the early 1960s, starting with Bhutan's Five Year Plans. India remains Bhutan's principal development partner, contributing INR 4,500 crores to Bhutan's 12th Five Year Plan, which constitutes 73% of Bhutan’s total external grant component.

Currently, over 83 large and intermediate projects, along with 524 Small Development Projects/HICDPs, are at various stages of implementation in Bhutan.

The 6th India-Bhutan Development Cooperation Talks under the 12th Five Year Plan and the 2nd Talks under the 13th Five Year Plan took place in March 2024 during the visit of Bhutan’s Foreign Secretary to India.

Approximately 50,000 Indian citizens work in Bhutan, primarily in the construction sector, education, and as technical consultants for infrastructure projects. Additionally, many Indian daily workers enter and exit Bhutan's border towns, demonstrating the close economic interdependence between the two countries.