Signs 10 MoUs, PM Modi holds talks with Bhutan's PM

The two countries signed 10 Memoranda of Understandings (MoUs) to infuse new vitality in their ties.

Indian Prime Minister Mr Narendra Modi is here on his second visit to Bhutan and the first since his re-election in May 2019. He introduced the Mangdechhu hydroelectric power plant and propelled stamps to remember five decades of India-Bhutan Hydropower cooperation.

Modi also propelled the RuPay Card in Bhutan by making a purchase at Simtokha Dzong, worked in 1629 by Shabdrung Namgyal. This spot functions as a religious and regulatory focus and is one of the oldest dzongs in Bhutan.

On expanding the currency swap limit for Bhutan under the SAARC money swap system, Modi said India's approach is "positive".

He said an extra US$100 million will be accessible to Bhutan under a standby swap arrangement to meet the foreign exchange requirement.

"It is a benefit for India to be a major accomplice in the improvement of Bhutan. India's collaboration in Bhutan's five-year plans will proceed,"

The two leaders together initiated the Ground Earth Station and SATCOM network, developed with assistance from the Indian Space Research Organization (ISRO) for usage of South Asia Satellite in Bhutan.

Modi said India is resolved to encourage Bhutan's advancement using space innovation. India will upgrade the communication, public broadcasting and disaster management in Bhutan.

The collaboration and connection between Royal Bhutan University and IITs of India and some other top educational institutions are in accordance with the present requirement for education and technology.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.