India has intensified its 'neighbourhood first' diplomatic outreach in recent weeks, with External Affairs Minister S Jaishankar concluding a two-day visit to Bhutan on Thursday that focused on strengthening connectivity and energy cooperation. According to reports from Business Standard, Rajnath Singh visited Sri Lanka from September 8-10, marking the first visit by an Indian Defence Minister to the island nation in 38 years. Additionally, Nepal's Finance Minister Swarnim Wagle is currently visiting India, having met Jaishankar and Union Finance Minister Nirmala Sitharaman on Friday. The diplomatic surge comes as India seeks to strengthen partnerships amid global geopolitical uncertainties.
New Delhi and Dhaka are discussing dates for Bangladesh Prime Minister Tariq Rahman's visit to India later this year as both countries strive to repair strained ties. As reported by Business Standard, Rahman skipped India's invitation to attend the recently-concluded Brics Summit in New Delhi. The Ministry of External Affairs (MEA) on Friday said it had seen media reports about the Bangladesh government's intent to review bilateral agreements signed during the tenure of former PM Sheikh Hasina. However, MEA spokesperson Randhir Jaiswal pointed out that Dhaka has not officially conveyed anything to New Delhi on this, with India stating it will take actions necessary to protect its interests.
India has provided significant financial support to the Maldives, with Maldives successfully settling the final tranche of $50 million in treasury bills on September 17. According to Business Standard, this was part of a total of $150 million subscribed by the State Bank of India (SBI), with India absorbing the entire $45 million in interest settlement. Jaishankar and his Bhutanese counterpart inaugurated and launched five development projects, including the Jaganathan Bridge in eastern Bhutan, and groundbreaking and foundation stone laying of the 500 kilowatt Lunana Hydropower Project. India has also extended a ₹30 billion currency-swap facility to Maldives to support the Maldivian financial system.
India and Bhutan have signed the agreement on a concessional line of credit of ₹4,000 crore for energy projects in Bhutan. As reported by Business Standard, India-Bhutan energy cooperation in the last couple of years has included the inauguration of the 1,020 megawatt (Mw) Punatsangchhu-II Hydroelectric Project (HEP) and signing of its tariff Protocol, and the resumption of dam construction of 1,200 Mw Punatsangchhu-I HEP. The joint rivers mechanism is continuing to hold technical level meetings on all water-sharing issues, including the 30-year Ganges Water Sharing Treaty that ends in December. India's strategic position in the Indian Ocean region continues to strengthen through initiatives like the India-sponsored IORA (Indian Ocean Rim Association) and BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) from 1997, MAHASAGAR (Great Oceanic Security And Growth for All in the Region) Initiative since 2015.
