The deceased have been identified as Tasdeen Norbe (20) and Tashee Tobe (18), they said.
Norbe, Tobe and Shivam were going on a motorcycle on Saturday night and hit into a roadside pole.
While Norbe and Tobe succumbed to their injuries, Shivam survived and has been hospitalised here.
The deceased were students of a private university here.
Phagwara DSP Manpreet Singh Dhillon said the Bhutan Embassy as well as the parents of the deceased have been informed about the incident.
"Any other police action will follow only after getting any complaint from parents or consultation with the Embassy officials," he said.
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