Cabinet approved two MoCs between India-Japan taking the bilateral relation forward
Source :NewsBharati   Date :12-Oct-2017

New Delhi, October 12: Moving forward the India-Japan co-operation more Cabinet has approved two more Memorandum of Cooperation in the field of energy and technology. One MoC is about establishing a liquid, flexible and global LNG Market and another is on the on the "Technical Intern Training Program (TITP)".

As India and Japan are major consumers of energy in the world, the MoC will promote bilateral relationship between India and Japan in the energy sector. Contributing to the diversification of gas supplies for India, this will strengthen our energy security and lead to more competitive prices for consumers.

The MoC provides a framework to cooperate in facilitating flexibility in LNG contracts, the abolition of Destination Restriction Clause and also explore possibilities of cooperation in establishing reliable LNG spot price indices reflecting true LNG demand and supply.

Another MoC is expected to be signed during the forthcoming visit of Minister for Skill Development & Entrepreneurship during October 16-18, 2017 at Tokyo. The Technical Intern Training Program (TITP) is an ambitious program to send Indian technical interns to Japan for on the job training for a period of three to five years.