Thimphu, Mar 22 (PTI) Prime Minister Narendra Modi on Friday said India will provide support of Rs 10,000 crore to Bhutan over the next five years, as the two sides signed several agreements in a range of fields including energy, trade and space to bolster cooperation.

He made the announcement in his address to a gathering here after receiving Bhutan's highest civilian award, the 'Order of the Druk Gyalpo', the first foreign Head of the Government to receive the honour.

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Modi said the relationship between India and Bhutan are as much old as they are modern and timely, adding, the depth of their relationship is both 'B2B' and 'P2P'.

"And, 'B2B' means' Bharat to Bhutan', and 'P2P' means people to people connect," he said.

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Modi also spoke of the Bhutanese government's 13th Five-Year Plan (FYP) and said, "Our full support and cooperation will be there".

"In the next five years, the government of India will provide support of Rs 10,000 crore in this direction," he added.

He made the announcement in the presence of Bhutan's King Jigme Khesar Namgyel Wangchuck and other dignitaries.

Prime Minister Modi is here on a two-day State visit to further cement India's unique relations with Bhutan as part of India's 'Neighbourhood First' Policy.

"For the 12th Five Year Plan of the Royal Government of Bhutan, India committed an assistance package of INR 5000 crores. Under the 12th Five Year Plan, India has implemented 82 Project Tied Assistance Projects and 524 High Impact Community Development Projects in Bhutan. India's commitment includes INR 400 crores towards Transitional Trade Support Facility," according to a statement issued on India-Bhutan relations in early March by the Indian Embassy in Thimpu.

India and Bhutan on Friday exchanged several MoUs and signed agreements in the fields of energy, trade, digital connectivity, space and agriculture, and finalised the MoU on the establishment of rail links between the two nations.

Later in the day, the Ministry of External Affairs issued a joint statement on the State Visit of the Prime Minister of India to Bhutan.

The statement is 'Bharat and Bhutan: Together for Progress and Development'.

"Since Bhutan's First Five Year Plan in 1961, India's development partnership with Bhutan has been empowering the people and ensuring development across sectors and regions. Our development partnership is a confluence of India's approach of 'Sabka Saath, Sabka Vikas, Sabka Vishwas' and the philosophy of Gross National Happiness in Bhutan. We will continue to expand our development partnership in line with the priorities of the people and the Government of Bhutan, and the vision of His Majesty," it read.

Modi in his nearly 25-minute address said India is the fastest growing, fifth largest economy in the world and "we have laid down a roadmap for its Amrit Kaal".

"We are on our way to becoming the third largest economy, and in this journey, Bhutan will be an important partner," he said.

Modi termed the Gross National Happiness Index of Bhutan a "visionary framework" and said he was confident that 'Mindfulness City' in Gelephu will also become an inspiration for the world.

He also said, "When the world is struggling with the challenge of climate change, Bhutan's 'carbon neutral' progress will guide the way".

"We celebrate each other's accomplishments. When Mission Chandrayaan happened, Bhutanese people were equally happy as Indians were". Similarly, when the film "Lunana: A Yak in the Classroom", was nominated for an Oscar, it made Indians rejoice too.

For better connectivity, whether it is a new airport, proposed rail links, or Brahmaputra waterways, "soon we will see them come to fruition".

And, for trade and infrastructure too, and to make them stronger, "integrated check posts will be made," he said.

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