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In force
India–Bhutan Agreement on Trade, Commerce and Transit
Trade treaty · in force since 29 Jul 2017
India and Bhutan have a free trade regime: goods move duty-free both ways and trade is settled in Indian rupees (at par with the ngultrum). The current version, signed in November 2016, took effect on 29 July 2017 for ten years; India accounts for over 80% of Bhutan's trade.
Key points
Free trade regime between India and Bhutan; duty-free transit for Bhutan's trade with third countries
Trade in Indian rupees, at par with the Bhutanese ngultrum
Bilateral trade grew from USD 484 million (2014) to USD 1,777 million (2024-25)
First signed in 1972; current agreement valid 10 years from 29 July 2017
How to claim
DGFT's Appendix 2A lists an issuing agency for the Bhutan agreement; ask your buyer whether Bhutanese customs need a certificate of origin for your goods.