India proposes to include investment promotion, development issues in IGC meeting

India wants to expand role of Inter-Governmental Committee (IGC) and include investment promotion and development issues also in the commerce secretary-level meeting.

"With the changing dimension of Nepal-India relations, the IGC also has to be expanded to address new development issues," said the visiting Indian commerce secretary S R Rao, during the meeting with the finance minister Shankar Prasad Koirala, at his office today.

Nepal's hydropower could be useful to the whole South Asia, if it could be exploited, he said, adding that Nepal has to increase investment in hydropower.

The Indian investors have been increasing their investment worldwide, and Nepal can attract them to invest, Rao suggested. "They will invest in Nepal provided investment-friendly environment and confidence."

India is ready to simplify the existing legal and bureaucratic hurdles to ease Nepal's exports, the secretary said, hailing Nepal's support to India in global trade regime. "

Koirala, on the occasion, hoped that the successful IGC meeting will help strengthen bilateral trade between Nepal and India. "There is huge potential for the investment in energy and infrastructure in Nepal," he said, adding that Indian assistance is highly expected in these sectors.

Thanking for the invitation of his counterpart Indian commerce minister Anand Sharma, Koirala said that he will discuss on bilateral trade and economic cooperation that would benefit both the countries.