Exports from Gujarat to Bhutan increase by 52 per cent in five years
Jul 22, 2024
Gandhinagar (Gujarat) [India], July 22 : The King of Bhutan, Jigme Khesar Namgyel Wangchuk and Prime Minister of Bhutan Tshering Tobgay are currently visiting India. During their visit, the dignitaries visited the Statue of Unity in Ektanagar, Gujarat, along with other members of their high-level delegation.
The bond between Gujarat, known as India's Growth Engine, and Bhutan has deepened significantly over the past few years. Bhutan's enthusiasm for strengthening business relations with Gujarat was evident when a high-level Bhutanese delegation visited Gujarat in 2014. Due to the pivotal focus on boosting economic ties, exports from Gujarat to Bhutan have surged substantially in the last five years. From USD 14.39 million in 2019-20, exports from Gujarat to Bhutan have climbed to USD 21.98 million in 2023-24, reflecting a remarkable 52 per cent growth over the past five years.
Gujarat's leading export items include plastic products, electrical machinery and equipment, ceramic products, fish, paper and paper products, and medicines. During this period, growth was not only seen in the overall export volumes but also in terms of diversification in the range of products exported to Bhutan.
Meanwhile, Gujarat Chief Minister Bhupendra Patel took to his official X handle and said, "Honoured to welcome His Majesty the King of Bhutan, Jigme Khesar Namgyel Wangchuck and the Prime Minister of Bhutan Tshering Tobgay, at Ahmedabad airport."
Upon assuming office as Prime Minister in 2014, Narendra Modi made his first foreign visit to Bhutan in June, marking a pivotal moment in strengthening India-Bhutan relations. In March this year, the Prime Minister revisited Bhutan to reaffirm the "Neighbourhood First Policy."
During the visit, the Prime Minister inaugurated a state-of-the-art children's hospital and announced a Rs 10,000 crore aid package for Bhutan's 13th Five-Year Plan. Bhutan's PM Tobgay hailed the Indian Prime Minister as a "friend and elder brother" and honoured him with Bhutan's highest civilian honour, the 'Order of the Druk Gyalpo'.
Through the dedicated efforts of PM Modi, trade between India and Bhutan has thrived remarkably. India is Bhutan's top trade partner, both as an import source and as an export destination. The trade value, excluding electricity, surged from USD 484 million in 2014-15 to an impressive USD 1,606 million in 2022-23. At present, approximately 30 Indian companies are actively contributing to Bhutan's development across diverse sectors, including banking, manufacturing, electricity generation, agriculture and food processing, pharmaceuticals, ITES, hospitality, and education.
