India and Bhutan packed MoUs related to Fuel Energy Vitals
Cabinet Committee approves signing of Memorandum of Understanding (MoU) between India and Bhutan on the General Supply of Petroleum, Oil, Lubricants (POL), and related products from India to Bhutan.
The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, has given its approval for the signing of a Memorandum of Understanding between the Government of India and the Royal Government of Bhutan on the General Supply of Petroleum, Oil, Lubricants (POL) and related products from India to Bhutan along with extending cooperation in the field of Energy Efficiency and Energy Conservation Measures.
It aims to benefit India and its citizens with improved economic and commercial linkages with Bhutan irrespective of any gender, class, or income bias, particularly in the area of the hydrocarbon sector. This will promote bilateral trade in the hydrocarbon sector and will ensure the secure and long-term supply of petroleum products to Bhutan.
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Since exports play a crucial role in realizing Aatmanirbhar Bharat while giving thrust towards self-reliant India. The MoU will be a strategic fit as Energy Bridge in India’s Neighborhood First Policy.
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Meanwhile, India aims to assist Bhutan in enhancing energy efficiency in the household sector by promoting a star labeling program developed by the Bureau of Energy Efficiency. The formulation of building codes, to suit the climate condition of Bhutan, will be facilitated based on India's experience. The creation of a pool of energy professionals in Bhutan is envisaged by institutionalizing the training of energy auditors.
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