The bilateral trade between Nepal and India is expected to cross $10 billion on the backdrop of increased sentiment for trade and investments between the two economies, according to PHD Chamber of Commerce and Industry (PHDCCI).
Currently, the bilateral trade between the two economies stands at $8.3 billion in the fiscal year 2018-19 with Nepal’s import from India at $7.8 billion and export only at $0.5 billion with a trade deficit of $7.3 billion.
In this backdrop, Nepal has sought India’s uninterrupted cooperation and complete trust to build a roadmap for a New Nepal just the way India is visualising a ‘New India’ through sound institutional arrangements in place, said Nepali ambassador to India Nilambar Acharya, addressing ‘Advantage Nepal Conclave: Ease of Doing Business in Nepal,’ under aegis of PHDCCI’s India-Nepal Centre (INC) in collaboration with Embassy of Nepal and Confederation of Nepalese Industries (CNI) in New Delhi today.
Acharya also pointed out that the era of insurgency and instability at government’s level in Nepal is over and with a stable government in place, the country looks forward towards India to build a fresh new country which ensures an inclusive growth for each of its citizen. “The era of insurgency and instable governments in Nepal is a thing of past and with new government in place with its fresh constitution, the country is committed for its social and economic transformation with close cooperation from India and other neighbouring countries though Nepal attaches paramount importance to India, given its age old relations between India and Nepal,” said the ambassador.
Acharya, on the occasion, also emphasised on the trust factor which Nepal holds over India by stating that given intensity of Nepali traditional relationship with India, for its economic and social upliftment and that it expects an uninterrupted and complete cooperation of India to rebuilding the new Nepal.
He identified host of areas for possible joint ventures between Nepal and India Inc such as heritage tourism, power particularly hydro, agriculture, pharmaceuticals and the like including education and skill development.
Host of experts – present on the occasion – also emphasised the need to explore the trade and investment opportunities and extended an invitation to India to participate in the economic development of Nepal, with a pro-active approach to achieve the desired objectives and they further assured of providing a conducive and suitable social environment to overseas industries particularly the ones from India.
It was also emphasised that PHDCCI, which largely represents the MSME segment, should be assigned the task of drafting the MSME Policy for the economy of Nepal, so that small and micro organizations of the two countries come forward at a united platform to cement the cooperation in the desired direction.
The conclave witnessed immediate past president of PHDCCI Anil Khaitan, chairman of India-Nepal Centre under PHDCCI and former envoy of India to Nepal K V Rajan, vice president of CNI and chairman of India-Nepal Centre (Nepal chapter) under PHDCCI Nirvana Chaudhary, deputy chief of Mission at the Embassy of Nepal in New Delhi Bharat Kumar Regmi, economic counselor at the Embassy of Nepal in New Delhi Tirtha Poudel, former governor of Chhattisgarh and former deputy national security adviser Shekhar Dutt, and former ambassador to Nepal Ranjeet Rae among others.
Currently, the bilateral trade between the two economies stands at $8.3 billion in the fiscal year 2018-19 with Nepal’s import from India at $7.8 billion and export only at $0.5 billion with a trade deficit of $7.3 billion.
In this backdrop, Nepal has sought India’s uninterrupted cooperation and complete trust to build a roadmap for a New Nepal just the way India is visualising a ‘New India’ through sound institutional arrangements in place, said Nepali ambassador to India Nilambar Acharya, addressing ‘Advantage Nepal Conclave: Ease of Doing Business in Nepal,’ under aegis of PHDCCI’s India-Nepal Centre (INC) in collaboration with Embassy of Nepal and Confederation of Nepalese Industries (CNI) in New Delhi today.
Acharya also pointed out that the era of insurgency and instability at government’s level in Nepal is over and with a stable government in place, the country looks forward towards India to build a fresh new country which ensures an inclusive growth for each of its citizen. “The era of insurgency and instable governments in Nepal is a thing of past and with new government in place with its fresh constitution, the country is committed for its social and economic transformation with close cooperation from India and other neighbouring countries though Nepal attaches paramount importance to India, given its age old relations between India and Nepal,” said the ambassador.
Acharya, on the occasion, also emphasised on the trust factor which Nepal holds over India by stating that given intensity of Nepali traditional relationship with India, for its economic and social upliftment and that it expects an uninterrupted and complete cooperation of India to rebuilding the new Nepal.
He identified host of areas for possible joint ventures between Nepal and India Inc such as heritage tourism, power particularly hydro, agriculture, pharmaceuticals and the like including education and skill development.
Host of experts – present on the occasion – also emphasised the need to explore the trade and investment opportunities and extended an invitation to India to participate in the economic development of Nepal, with a pro-active approach to achieve the desired objectives and they further assured of providing a conducive and suitable social environment to overseas industries particularly the ones from India.
It was also emphasised that PHDCCI, which largely represents the MSME segment, should be assigned the task of drafting the MSME Policy for the economy of Nepal, so that small and micro organizations of the two countries come forward at a united platform to cement the cooperation in the desired direction.
The conclave witnessed immediate past president of PHDCCI Anil Khaitan, chairman of India-Nepal Centre under PHDCCI and former envoy of India to Nepal K V Rajan, vice president of CNI and chairman of India-Nepal Centre (Nepal chapter) under PHDCCI Nirvana Chaudhary, deputy chief of Mission at the Embassy of Nepal in New Delhi Bharat Kumar Regmi, economic counselor at the Embassy of Nepal in New Delhi Tirtha Poudel, former governor of Chhattisgarh and former deputy national security adviser Shekhar Dutt, and former ambassador to Nepal Ranjeet Rae among others.
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