India MoU with Indonesia-Malaysia-Thailand Growth Triangle Joint Business Council

February 8, 2023

The Growth Triangle Joint Business Council was created by Indonesia, Thailand, and Malaysia in 1993. The main objective of the council is to boost private investments in MSMEs. During the G20 Energy Transitions Working Group meeting held in Bengaluru, India signed an MoU with the Growth Triangle Joint Business Council. According to the MoU, the countries will work together to adopt energy-efficient practices.

About the MoU

The agreement was signed during the celebrations of India Energy Week
EESL signed the agreement on behalf of India

Significance

Coal is the main source of energy in Malaysia. However, just like other developing countries Malaysia is adopting clean energy. The potential for wind and solar energy is big in Malaysia. Using the opportunity of Malaysia being less developed in solar energy, India can increase its trade with Malaysia in this field. In Thailand, the contribution of renewable energy is just 8% of the total energy. Clearly, India has good business potential in the field of green energy with these countries.

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