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

06:01 PM Mar 14, 2024 IST | NE NOW NEWS
UpdateAt: 06:01 PM Mar 14, 2024 IST
india bhutan inks mou on general supply of petroleum  oil and lubricants
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Guwahati: The Union Cabinet chaired by Prime Minister, Narendra Modi, on Wednesday has given its approval of signing of Memorandum of Understanding (MoU) 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.

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.

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

Since exports play a 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.