Cabinet approves signing of Memorandum of Understanding (MoU) between India and Bhutan on General Supply of Petroleum, Oil, Lubricants (POL) and related products from India to Bhutan

No: -- Dated: Mar, 13 2024

The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, today has given its approval of signing of Memorandum of Understanding between the Government of India and the Royal Government of Bhutan on General Supply of Petroleum, Oil, Lubricants (POL) and related products from India to Bhutan. 

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 hydrocarbon sector.

Benefit:

The Memorandum of Understanding will promote bilateral trade in the hydrocarbon sector and will ensure secured and long term supply of petroleum products to Bhutan. 

Since, exports play crucial role in realizing Aatmanirbhar Bharat. The MoU will give thrust towards self-reliant India.   

The MoU will be a strategic fit as Energy Bridge in India’s Neighborhood First Policy.

Courtesy – Press Information Bureau, Government of India