India and Bhutan cherish a special bond of friendship: H.E. Lyonpo Namgyal Dorji, Hon’ble Minister of Industry, Commerce & Employment, Bhutan

India and Bhutan cherish a special bond of friendship and India always has a special place in the hearts of all Bhutanese, said H.E. Lyonpo Namgyal Dorji, Minister of Industry, Commerce & Employment, Royal Government of Bhutan. He was speaking at the Bhutan Investment Roadshow organised by the Confederation of Indian Industry (CII) and Ministry of Industry, Commerce & Employment (MoICE), Royal Government of Bhutan, in New Delhi today.

The Minister highlighted that the investment roadshow comes at a very pivotal moment as Royal Government of Bhutan embarks on a very ambitious journey to strengthen the nation's economy through increased Foreign Direct Investment (FDI). He said that the right partnerships supported by strategic investments are the cornerstone of lasting prosperity, perfectly portraying the unique ties between Bhutan and India as described by leaders “Bharat for Bhutan and Bhutan for Bharat”. Bilateral ties stand as a model of trust and mutual respect, the minister added.

Mr. Dorji stated that India remains Bhutan’s largest source of FDI with investments spanning across diverse sectors from financial services and hospitality to IT and manufacturing, among others. “We aim to build on this robust foundation and forge even greater economic and business partnerships that will drive shared growth and prosperity,” he emphasised.

Promoting robust bilateral relations between India and Bhutan, the minister also underscored that the Royal Government of Bhutan has an ambitious target to increase FDI by more than 10-fold in the next 5 years, reaching INR 500 billion. This vision is part of a journey to transform Bhutan into a high-income Gross National Happiness economy by 2034. He also underlined the significant initiatives taken by Bhutan, including the recent formation of the Economic Development Board (EDB) which is chaired by Hon’ble Prime Minister of Bhutan. The primary mandate of this board is to attract more FDI, improve the investment regime and position Bhutan as a leading investment destination.

Mr. Dorji spoke about Gelephu Mindfulness City (GMC), which is envisioned as the dynamic hub for green economy, logistics, digital innovation, high-end wellness, financial and wealth management, and education services. This transformative initiative will operate under the unique one-country two-systems model, positioning Bhutan as the vital connector to the region and beyond.

The Bhutan Investment Roadshow saw participation from industry members of India and Bhutan. At the B2B interactions, industry members discussed potential areas of collaboration in agriculture, tourism, ICT, and wood processing sectors.

H. E. Maj Gen Vetsop Namgyel, Hon’ble Ambassador, Royal Bhutanese Embassy, New Delhi underscored the special ties of friendship between India and Bhutan . He emphasized Bhutan’s political stability, rich cultural heritage, and pristine natural environment, noting that Bhutan is also a carbon-negative country. To facilitate investments in Bhutan, Ambassador also focused on FDI opportunities in Gelephu Mindfulness City.

Mr. Sanjiv Puri, President, CII lauded the leadership of Bhutan in promoting the powerful concept of Gross National Happiness. He underscored the importance of several sectors such as tourism which is a significant sector for Bhutan, along with green energy, data centres, healthcare, food processing, capacity building and skilling.

7 January 2025

New Delhi