Govt nod for new pact on trade, transit with Bhutan

  1. What: The Cabinet has approved a new Agreement on Trade, Commerce and Transit between India and Bhutan
  2. The agreement provides for a free trade regime between two countries, and duty free transit of Bhutanese merchandise for trade with third countries
  3. Bilateral trade between will continue to be transacted in Indian Rupees and Bhutanese Ngultrums
  4. The bilateral trade had grown by 55% year-on-year in FY’16 to $750 million, with India’s exports rising 40.4% to $469 million
  5. While imports from Bhutan jumping 87 per cent to $281 million
Foreign Policy Watch: India-SAARC Nations
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