Bhutan-India Connectivity & Trade: India is planning cross-border road and rail links via Bangladesh to connect its Northeast to the mainland, with the Khulna–Mongla port railway project also flagged as a route that can link India, Nepal and Bhutan to Bay of Bengal ports. Hydropower Deal: JSW Energy and Bhutan’s DGPC signed a shareholders’ agreement to jointly develop the 920 MW Punatsangchhu-III hydro project in Wangdue Phodrang, with DGPC holding 51% and JSW Neo 49%, and DPR work underway. Development Finance (PTA): India approved a new tranche of Project Tied Assistance for Bhutan under the 13th Five-Year Plan, including Nu 500M for chain-link fencing to protect farms from wild animals, Nu 480M for urban infrastructure in seven districts, and funding for health, disability services, and disaster readiness. Urban Planning & Construction: Haa lifted its moratorium on construction activities after revising the Haa Local Area Plan and Development Control Regulations, restarting approvals for new builds, renovations and land subdivisions. Cross-Border Retail Pressure: A Bhutan study says most Phuentsholing residents shop in Jaigaon (94.9% for at least some purchases), driven mainly by lower prices and wider choice, putting local retailers under cost and supply-chain strain. Energy & Skills: Bhutan’s solar push is increasing demand for engineers trained in designing and assessing utility-scale solar projects. Industry Snapshot: Bhutan’s SOEs contribute 23.06% of GDP but only 3.55% of employment, underscoring their weight in capital-intensive sectors like hydropower and telecom.