PM Modi is on his second visit to Bhutan. PM Modi and his Bhutanese counterpart Lotay Tshering held wide ranging talks. The two countries signed 10 MoUs in the fields of space research, aviation, IT, power and education.
Mangdechhu hydroelectric power plant
Mr. Modi inaugurated the Mangdechhu hydroelectric power plant and also launched stamps to commemorate five decades of India-Bhutan hydropower cooperation.
Most of the electricity generated by the Mangdechhu hydropower project will meet the energy requirements of Bhutan and the surplus electricity will be exported to India.
RuPay card launched
Mr. Modi also launched the RuPay Card in Bhutan by making a purchase through the card. The card will further enhance relationship between India and Bhutan in digital payments, and trade and tourism.
Currency swap facility
On increasing the currency swap limit for Bhutan under the SAARC currency swap framework, Modi said an additional $100 million will be available to Bhutan under a standby swap arrangement to meet the foreign exchange requirement.
Other areas of cooperation
India’s cooperation in Bhutan’s five-year plans will continue. The two leaders jointly inaugurated the Ground Earth Station and SATCOM network, developed with assistance from ISRO for utilization of South Asia Satellite in Bhutan.