The Union Cabinet has gave its ex-post facto approval to a memorandum of understanding (MoU) signed between India and BRICS (Brazil, Russia, India,China and South Africa) nations for strengthening and further developing of energy saving and energy efficiency cooperation based on the principles of equality and mutual benefit.

The MoU provides for cooperation in areas of – joint scientific and technological research, conferencing and holding of lectures and seminars, capacity building and technology transfer, technology development, sharing policies and best practices, encouragement of use of energy efficient and energy saving approaches and instruments in the work of the business entities of the BRICS countries, carried out within the BRICS countries in Consultation with the host country.

Under the MoU, the BRICS countries intend to examine the practicability of development of the comprehensive programme of cooperation in energy saving and energy efficiency promotion, including specific common projects, applicable methods and instruments of energy saving promotion and energy efficiency increase in their economies.