Indian businesses are exploring opportunities to expand investments in Bhutan through the Gelephu Mindfulness City. They are also keen on establishing data centres in Bhutan. These were discussed during a meeting between a 28-member delegation from the Indian Chamber of Commerce (ICC) and Bhutanese business owners on Tuesday. The networking event organised by the Bhutan Chamber of Commerce and Industry (BCCI) also discussed measures to further enhance trade between the two countries.
The members of the Indian delegation come from diverse sectors such as real estate, media, horticulture, healthcare, education and food processing among others.
During the daylong event, ICC president, Ameya Prabhu expressed interest in the possibility of setting up data centres in Bhutan. This, he said is because of the availability of hydro-electricity and the cooler climate in Bhutan as compared to India.
“Most of India is very hot. I come from Maharashtra which is a very, very hot state. So that is something unique as Bhutan is connected to the Indian optical fibre grid. So, I think that is another opportunity.”
During the meeting, Bhutanese business owners shared concerns about the need to establish a point of contact in India so that Bhutanese traders can seek help and information for smoother trade. Bhutanese participants suggested the ICC share their membership list with them so that they can trade with genuine businesses registered with the ICC.
“All the members here should share their information because now we have trust in them. They came as a member of ICC and we know that these are all professionally established business houses that we can do business with. So, it’s not only about trading, and manufacturing but also about consultancies and services. So, these are the things we can look into,” said Ugen Tsechup Dorji, chairman of Singye Group and Zimdra Industries Pvt. Ltd.
The ICC president also said that as almost 50 per cent of Bhutan’s Foreign Direct Investment is from India, India wants to expand their investment portfolio where the Gelephu Mindfulness City is a possible avenue. The BCCI president said more delegations from India will be invited to Bhutan for discussions.
“One of the strategies for investment is to invite delegates from different countries, for this, we are focusing mostly on India. We also received proposals from a Swiss firm based in Mumbai. Around 50 delegates of the Confederation of Indian Industry (CII) are planning to visit. Another strategy involves directing those interested in the Gelephu Mindfulness City to the prime minister, who will inform the relevant agencies accordingly,” said Tandy Wangchuk, BCCI President.
The ICC president also sought recommendations from Bhutanese participants to address challenges that are affecting the trade between the two countries. He also said India and especially the ICC will be happy to help Bhutan achieve its target of becoming a high-income country in the next decade or so.
Tenzin Loday Gyeltshen
Edited by Kipchu
