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Time of India
4 days ago
- Business
- Time of India
Delegation from Bhutan meets CM
1 2 3 Guwahati: An 11-member delegation from Bhutan's Gelephu Mindfulness City Project met Assam chief minister Himanta Biswa Sarma on Tuesday. The delegation is on a visit to Assam and Meghalaya . The Gelephu Mindfulness City is an ambitious urban development initiative in Bhutan, envisioned by King Jigme Khesar Namgyel Wangchuck. It aims to create the world's first 'mindfulness city', integrating economic growth, sustainable living, and holistic well-being, all rooted in Bhutan's unique philosophy of Gross National Happiness (GNH) index. The delegation included members of the core working group of the project and officials from the Royal Bhutanese Consulate General. Welcoming the delegates, Sarma said Assam govt, aligned with the vision of PM Modi, stands committed to supporting this project. He assured the delegation of cooperation and collaboration from the state administration in working closely with both the Royal Government of Bhutan and the Core Working Group. The Chief Minister noted that the project would serve as an important platform to deepen institutional collaboration as well as people-to-people ties between Assam and Bhutan. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 5 Books Warren Buffett Wants You to Read In 2025 Blinkist: Warren Buffett's Reading List Undo He also highlighted the project's potential benefits for the youth of both regions through opportunities in education, skill development, entrepreneurship, cultural exchange, and more. Sarma encouraged the delegation to visit key institutions in Assam, such as institutions of higher education and medical facilities, to explore further areas of synergy and cooperation. He also invited them to make use of various state-run facilities that may serve as models or partners in developing the Gelephu Mindfulness City. Recalling His Majesty King Jigme Khesar Namgyel Wangchuck's previous visit to Assam, the Chief Minister expressed his desire to host the entire royal family in the future. The Bhutanese delegation was led by Dasho Arun Kapur and included former Chief Justice of Bhutan Dasho Tshering Wangchuk, Member of the National Council of Bhutan and MP Dasho Tashi Wangyal, along with other members of the Core Working Group of the Gelephu Mindfulness City (GMC) project. Two officials from the Royal Bhutanese Consulate General - Consul General Jigme Thinlye Namgyal and Consul Phurpa Tshering - were also present.
Yahoo
17-04-2025
- Business
- Yahoo
Bhutan turns to 'green' cryptocurrency to fuel economy
By Rupam Jain NEW DELHI (Reuters) - The Himalayan nation of Bhutan is exploring ways to mine and leverage green cryptocurrencies using hydropower to boost its economy and create jobs to reduce brain drain, the chief executive of its sovereign wealth fund said. Green cryptocurrencies are digital currencies mined using clean energy resources such as wind, hydro or solar power instead of fossil fuel. Sandwiched between Asian giants India and China, Bhutan has earned millions of dollars in recent years by investing in some of the world's most popular cryptocurrencies and used some of its profit to pay government salaries for two years, two senior officials in Thimphu, the capital said. "We are a nation that runs 100% on hydropower, and every digital coin we mine in Bhutan using hydropower offsets that coin which gets mined using fossil fuels," said Ujjwal Deep Dahal, the CEO of the fund, Druk Holding and Investments Ltd. "So a coin mined in Bhutan will contribute to the green economy," he told Reuters on Tuesday. Dahal said the fund, which controls Bhutan's only power generation utility, began adding cryptocurrencies to its portfolio in 2019, seeing virtual currencies as a tactical investment and a gamechanger for the country. Bhutan is famed for its Gross National Happiness (GNH) index, an economic gauge that incorporates factors ignored by the usual measures of gross domestic product, such as recreation, emotional well-being and sustainability. It uses hydropower to operate energy-guzzling supercomputers to create digital assets that can be added to the blockchain. Officials are exploring whether large conglomerates could buy Bhutan's "green" coins to meet their targets on environmental, social and governance (ESG) norms. "Bitcoin has not just given more value to hydropower energy, it has also increased access to liquidity in foreign currency," said Dahal, who added that training Bhutan's young people in blockchain and AI techniques would fuel jobs. The nation of about 800,000 is battling an exodus of young, educated people. The government estimates that more than a tenth of its young people sought greener pastures between 2022 and 2023, taking unemployment in that age group to 16.5% in 2024. Analysts said Bhutan's ambitious plan to become the capital of green digital currency depends on expanding its hydropower generation to a potential of 33 gigawatts versus existing capacity of about 3.5 gigawatts. "We have plans to generate 15 gigawatts in the next 10 to 15 years," Dahal added. Sign in to access your portfolio
