Nepal Has Potential: Indian Ambassador

Nepal Has Potential: Indian Ambassador

Dec. 28, 2013, 5:45 p.m. Published in Magazine Issue: Vol: 07 No. -13 Dec. 27- 2013 (Poush 12, 2070)

Indian Ambassador Ranjit Rae has said that India and Nepal had great potentials to increase the bilateral trade. Addressing a press conference in Kathmandu, Rae said India was ready to support Nepal to enhance its capability in the industrial sector.

“India InvestTrade will help Indian investors to find areas for investment in Nepal,” said ambassador Rae.

“Indian investors have been showing way to invest in Nepal. India wants to see Nepal as a stable and prosperous country. India InvestTrade will help Indian investors to find the areas for investment in Nepal. Indian investors have been showing interest to invest in Nepal.”

India wants to talk about investment partnership issues in the IGC.  Saying that Indian companies have made investment worth Rs 40.6 billion in Nepal, Rae underlined the need to bring more Indian investment to Nepal through bilateral talks.

"There must be discussions and deliberations on how Nepal can attract more Indian companies to invest in Nepal,” Rae said. “There is the need to bring more FDI for maintaining the balance of payment of Nepal. We would like to discuss investment promotion and protection issues in the IGC.”

Rae also floated the idea of holding a joint-secretary level meeting between the two countries to talk on investment issues.

Saying that the private sector plays a major role in bilateral trade, Rae urged the Nepal government to incorporate their agenda in the IGC meeting. He said resolution of trade issues between Nepal and India would not only improve bilateral trade but also help in Nepal´s third country trade.

Rae said the total trade between the two countries reached US$ 4.7 billion last year. It is expected to reach $5 billion this year and there are more potentials and opportunities for trading between the countries.

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