Bhutan, India work to strengthen economic ties

Posted By: Staff
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New Delhi, July 1 (ANI): Bhutan Prime Minister Jigme Yoser Thinley called on Finance Minister Pranab Mukherjee here on Wednesday over bilateral economic relationship.

Bhutan has liberalised its Foreign Direct Investment (FDI) laws to attract Indian investors.

Bhutan has eased the norms in order to allow more than 70 per cent FDI in sectors like hydel power, information and communication technology, hospitality, agriculture and infrastructure.

Presently, Bhutan allows 100 per cent FDI in IT sector and 70 per cent in power sector.

Both India and Bhutan have agreed to develop 11,000 MW of hydel power through ten projects by 2020.

Thinley visited India last year after taking over as Bhutan's first democratically elected Prime Minister. He, thereafter, visited New Delhi in November 2008 to participate in the second BIMSTEC Summit. (ANI)

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