Four-day festival at the Royal Thimphu College explores standards, economic development and shared challenges
Young economists from Bhutan and India came together at Royal Thimphu College (RTC) from October 15 to 18 for the Rethinking Economics Festival 2026, an annual platform for academic exchange, intellectual discussion and cultural interaction.
Held under the theme “Setting Standards for Mutual Development,” this year’s festival brings together undergraduate and postgraduate economics students from the two countries to discuss issues relevant to economic development and explore different perspectives through presentations, panel discussions and informal exchanges.
The festival was launched in 2023 to strengthen the longstanding friendship between Bhutan and India through academic engagement. In the 2023 and 2024 editions, 10 Indian students participated in the programme in Bhutan, while in 2025, 10 Bhutanese students travelled to India.
Since its launch, the festival has developed into a platform connecting students with academics, policymakers and wider society.
The theme for this year’s festival drew inspiration from the World Development Report 2025, which highlights the role of standards in building trust, improving market efficiency and supporting economic development. The report notes that standards embody collective knowledge and help economies function efficiently, while weaknesses in standards can contribute to fragmented markets.
Against this backdrop, the festival examined how standards relating to measurement, compatibility and quality assurance can influence economic activity and create opportunities for greater efficiency.
The theme is particularly relevant to Bhutan and India, given their close economic relationship and the growing importance of compatible systems for trade, investment and business activity. The discussions provided an opportunity for participants to consider the practical challenges faced by both countries and how economic institutions can respond to changing demands.
The festival aims to promote broader learning and informed debate on issues of mutual relevance while encouraging students to develop a wider understanding of regional economic development. It also seeks to create space for participants to exchange ideas and identify areas where collaborative initiatives could generate benefits for both countries.
The emphasis, however, extends beyond formal academic discussions. By bringing students from different backgrounds together, the festival allows participants to learn from one another and develop a deeper understanding of the economic and social contexts of the two countries.
The programme featured student paper presentations, a panel discussion, an RTC presentation and an economics quiz, followed by a valedictory session and campus visit. A cultural programme in the evening will provide participants with an opportunity to share and experience Bhutanese and Indian cultural traditions.
The combination of academic and cultural activities is intended to make the festival more than a conventional economics conference, giving students opportunities to interact, exchange perspectives and build lasting connections.
The festival comes at a time when young people are increasingly expected to understand economic issues beyond textbooks and classroom theory.
By placing standards at the centre of this year’s discussions, the organisers aim to encourage participants to examine how seemingly technical systems can influence markets, businesses and broader economic development.
The event also provided a platform for students to present their research and ideas while engaging with peers and experienced academics.
For the participating students, the festival offered an opportunity to examine economic questions from perspectives shaped by two different national contexts while finding areas of common interest.
The Rethinking Economics Festival 2026 concluded its formal programme with academic and cultural activities designed to leave participants with new perspectives, ideas and connections that can extend beyond the four-day event.
Tashi Namgyal, Thimphu
