President Pranab Mukherjee, during his two-day state visit to Bhutan, on Saturday invited that nation to participate in Indian markets, stating that Thimphu can fully exploit the opportunities presented in the said market to its benefit.
"The large and growing Indian market holds tremendous possibilities for exports from Bhutan - from agro-processed foods to cement, India can absorb whatever surplus Bhutan chooses to share," President Mukherjee said while addressing an elite gathering here.
Terming cooperation in the hydropower sector as a 'win-win cooperation between India and Bhutan', President Pranab Mukherjee said that more such projects were in the pipeline.
"Hydropower is a classic example of the win-win cooperation between our countries. The three existing hydropower projects have helped to electrify almost all of Bhutan, export surplus power to India and earn assured revenues to further fuel growth and expansion," the President said.
"With the Punatsangchu projects on track for completion by 2018 and the Mangdechhu Project expected to be completed by the end of 2017, the future of power production in Bhutan looks promising indeed," he added.
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Indicating the success that has built upon such projects, President Mukherjee said that four more projects have been taken up as joint ventures between public sector undertakings of India and Bhutan.
"To build on our success, we have decided to also take up 4 more projects as joint ventures between public sector undertakings of India and Bhutan," he said.
The bilateral relations between India and Bhutan date back to 1949 when the two countries signed the treaty of friendship and cooperation. This treaty, which provides for perpetual peace and friendship, free trade and commerce, and equal justice to each other's citizens, was updated and signed by King Wangchuck in February 2007.
