New Delhi, Jan 19 Commerce Minister Kamal Nath today said that India continues to be the largest trade and development partner of Bhutan.

During the bilateral interaction with Bhutanese Minister for Economic Affairs, Khandu Wangchuk, he informed that the trade between India and Bhutan has grown significantly from a level of US$ 141.86 million in 2003-2004 to US $ 281.17 million in 2007-2008. In 2007-08, while India's export to Bhutan was US $ 86.69 million, the imports were valued at US $ 194.48 million.

"During April-October, 2008 foreign direct investment flows to India were valued at US $ 18,707 million as against US $ 9,277 during the same period last year, showing an increase of 102 per cent," he said..

"This shows India is a sought after destination for Investors despite slow down in the world economy," he added.

The Minister furter said that the major items of exports from Bhutan to India are electricity, cement, timber and wood products, minerals, cardamom, fruit products, potatoes, oranges and apples, raw silk and alcoholic beverages.

"Major exports from India to Bhutan are petroleum products, rice, automobiles and spares, machinery and fabrics," The Minister added. (ANI)