Wednesday, January, 15,2025

India-Bhutan signs MoU on general supply of petroleum, oil and lubricants

New Delhi: The Union Cabinet, chaired by Prime Minister Narendra Modi, has given its nod for the signing of a Memorandum of Understanding (MoU) on the General Supply of Petroleum, Oil, Lubricants (POL), and related products from India to Bhutan, in a significant move aimed at fortifying the economic ties between India and Bhutan.
According to a press release, the memorandum, set to be inked between the Government of India and the Royal Government of Bhutan, seeks to enhance bilateral trade in the hydrocarbon sector, ensuring a secured and long-term supply of petroleum products to Bhutan.
The approval underscores India's commitment to bolstering its commercial relations with Bhutan, regardless of gender, class, or income bias.
One of the primary objectives of the MoU is to foster mutually beneficial economic and commercial linkages between the two nations.
By facilitating the exchange of petroleum products, both India and Bhutan anticipate substantial gains in their respective economies.
Additionally, the MoU aligns with India's vision of an Aatmanirbhar Bharat (self-reliant India), as exports play a pivotal role in realizing this goal.
The MoU will be a strategic fit as Energy Bridge in India's Neighborhood First Policy.
The MoU is expected to provide a framework for cooperation in the hydrocarbon sector, promoting synergy between the energy industries of India and Bhutan.
It will facilitate smoother trade operations, ensuring a steady flow of petroleum products to Bhutan while enhancing India's export portfolio.

  Share on

Related News

visit e-papers

Daily Astro

image

Aries

Today brings opportunities for growth, but you'll need to stay focused. Trust your instincts to navigate challenges.

image

Pisces

Your intuition will guide you. Trust your feelings and explore creative outlets for peace of mind.

image

Aquarius

Innovation is your theme today. Explore unconventional ideas to solve lingering problems.

image

Capricorn

Hard work pays off today. Your dedication and discipline will lead to well-deserved recognition.

image

Sagittarius

Adventure is calling! Embrace new opportunities, but keep a balanced approach to risks.

image

Scorpio

Your determination will be unmatched. Dive deep into tasks, but don't forget to take breaks to recharge.

image

Libra

Harmony in relationships is your priority. Compromise and understanding will strengthen your bonds.

image

Virgo

Focus on organization and details. A well-planned day will lead to productive results and personal satisfaction.

image

Leo

Leadership will come naturally. Take charge of situations but remain humble for the best outcomes.

image

Cancer

Emotional balance is key today. Spend quality time with loved ones to find comfort and clarity.

image

Gemini

Today is perfect for networking and sharing ideas. Your adaptability will help you tackle unexpected changes with ease.

image

Taurus

Patience will be your strength today. Financial matters might need attention, so think twice before making big decisions.