Indian PM Singh suggests Nepal to boost investment

Indian prime minister Dr Man Mohan Singh suggested Nepal to increase investment in productive industries, hydropower and infrastructure development.

During a meeting with SAARC commerce ministers today in New Delhi, he also urged Nepal to increase investment in economic development.

He also suggested commerce minister Shankar Prasad Koirala to increase domestic production to bridge trade deficit.

Returning from New Delhi Koirala today briefed the media that the fifth SAARC Business conclave has decided development of entrepreneurship, energy and future course for the regional prosperity.

The SAARC commerce ministers, on the occasion, unitedly decided to work for trade facilitation, infrastructure development, and enhance supply capacity of landlocked countries in the region, he said, adding that the effective implementation of SAFTA will help develop the South Asia.

During the meeting with the Indian commerce minister, Nepal also discussed on petroleum pipe line and transit facility to increase Nepal's third country export.

Responding to Koirala's request, Sharma suggested to increase investment in energy to narrow down the trade deficit, though India is positive to help solve transit issue.

The active participation of private sector and government will make economic development possible, Koirala added.