Recently, the proposal related to establishing a global LNG market between India and Japan has been approved by the Central Cabinet. Both countries will be benefited from this agreement. This will enable both the countries to get supply of LNG from cheap rates and accessibility.
Benefits to India and Japan with the Global LNG Market Agreement:-
After this agreement, India will be able to purchase LNG from countries where Japan has signed an agreement to supply LNG. In return, Japan will also get the facility of buying LNG from those countries with which India has entered into an agreement with LNG procurement.
As an example, there is currently a LNG supply agreement between India and Australia and there is an agreement on LNG supply between Japan and Qatar. Whereas Australia is close to Japan and Qatar is close to India. After this agreement, Japan, Australia and India will be able to purchase LNG from Qatar.
The TITP Agreement concluded between India and Japan:-
Recently the 'TITP -Technical Intern Training Program' agreement with Japan has been finalized by the Central Government. Under this agreement, a decision relates to the provision of three lakh trained Indian youth to acquire high level skills and work in Japan. Under the TITP, these three lakh Indian youth will be sent to Japan for three to five years.
India and TITP:-
How will Japan benefit?
TITP will be able to fulfill the shortage of young trained workers in Japan. It is known that Japan is facing the problem of shortage of trained young workers these days while India has a large number of young workers.
When young workers going to Japan from India return to India after three to five years, they will bring together a better skilled international work culture as well as better industrial training together. This will certainly benefit the country.
Conclusion:
In conclusion, it can be said that the relations between India and Japan will benefit both the countries near here. In this regard, the global LNG market agreement and TITP will both play an important role.
