Cabinet Greenlights MoU Between India and Bhutan for Supply of Petroleum Products
This MoU focuses on the General Supply of Petroleum, Oil, Lubricants (POL), and related products from India to Bhutan.
March 15, 2024. By Abha Rustagi
The primary aim of this agreement is to enhance economic and commercial ties between India and Bhutan, transcending gender, class, or income biases. Specifically, it targets the hydrocarbon sector, seeking to benefit India and its citizens through improved trade relations with Bhutan.
One of the key benefits of the MoU is the promotion of bilateral trade in the hydrocarbon sector, ensuring a secure and long-term supply of petroleum products to Bhutan. This not only strengthens economic cooperation between the two nations but also contributes to India's self-reliance goals, as exports play a crucial role in realizing the vision of Aatmanirbhar Bharat (Self-Reliant India).
Moreover, the MoU aligns strategically with India's Neighborhood First Policy, serving as an Energy Bridge to bolster regional connectivity and cooperation in the energy sector.
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