India, US sign energy agreement

New Delhi: The US agency for international development and the department of economics affairs of the ministry of finance has signed a memorandum of understanding, launching India's participation in the South Asia Regional Initiative for Energy Cooperation and Development (SARI/Energy).

SARI/Energy (www.sari-energy.org) promotes mutually-beneficial energy linkages among India, Bangladesh, Bhutan, Nepal, Sri Lanka and the Maldives. The programme fosters regional economic integration by encouraging trade and development of clean energy, especially hydropower and natural gas. India is expected to benefit from the improved energy security and the lower cost of energy supplies through the increased trade in energy within the region.

To help unlock the region's energy potential, SARI/Energy focuses on regional energy trade and exchange, regulatory and tariff policy reform, private sector involvement, rural energy supply, and energy efficiency.