India-Nepal Relations are multi-layered and formed through the traction of deep trust for each-other entrusted by both the friendly countries – and favourable socio-cultural and strategic fundamentals. Historically and in continuance, the cornerstones of bilateral diplomatic and trade relations have had strong consideration on sublime people-to-people ties, friendly cross-border connectivity and prospects of close economic cooperation.
To acknowledge and further accentuate it, PHD Chamber of Commerce and Industry (PHDCCI) under aegis of its India-Nepal Centre (INC) / State Development Council (SDC) and in association with the Embassy of Nepal, New Delhi, India has organised “India-Nepal Business Summit” on 30th May in Bhopal. The Summit essentially focused on the sectors where India-Nepal co-operation can be further boosted to achieve the desired goals for Nepal’s economic development – Energy, Infrastructure, Tourism, Agriculture & Food Processing, Skill Development & Start-ups and Services.
The Inaugural Session cantered on theme, “Roadmaps for Accelerating Inclusive Sub-regional Economic Growth”. In his Welcome Address Mr K V Rajan, Chairman, India-Nepal Centre, PHDCCI laid focus on the fact that both countries have advantage of political stability and the economic priorities thus be shaped through the strong fundamentals for reshaping the bilateral as well regional economic cooperation.
Nilambar Acharya, Ambassador of Nepal in India, had shared his reflections, “It is a great pleasure to learn that after joint efforts of Embassy of Nepal in New Delhi and the PHDCCI "India-Nepal Business Summit" is being organized in this historic and beautiful city of Bhopal, the capital city of Madhya Pradesh, the heart of India, about trade, investment and business opportunities in Nepal. I am confident that the presentations to be made, panel discussions, networking and interaction sessions to be made here will be fruitful in highlighting trade, investment and other economic opportunities in Nepal.”
Akhilesh Mishra, Director General, Indian Council of Cultural Relations (ICCR) gave the Keynote Speech and recounted the benefits of people-to-people relations India and Nepal enjoy and that make their understanding unmatchable. He pointed out that India and Nepal have immense opportunities through their social and cultural connect and which should support the economic cooperation to stay in thriving state.
From the Government of Madhya Pradesh, P C Sharma, Minister for Civil Aviation, Science & Technology, Law & Legal Affairs & Public Relations addressed the industry gathering and persuaded the concerned stakeholders to channelize more businesses between Madhya Pradesh and Nepal.
Tirtha Poudel, Counsellor (Economic), Embassy of Nepal gave the presentation on the opportunities available in Nepal for institutional investment through the existing and new businesses. He reflected on the policies and possibilities Nepal relentlessly offer to the investors, especially from India.
The other Sessions of Summit hosted the experts’ views on the important aspect that shape the possibilities of India-Nepal economic cooperation: Promoting Industry in Nepal; Revisiting Bilateral Trade Policies; Expanding Sub-regional Cooperation; Border Area Development; MSMEs; Destination Madhya Pradesh); Policy Reforms & Ease of Doing Business in Nepal; Sectoral Possibilities in Nepal; Channelising Investment (both-ways) for Industrial Development in Nepal and Madhya Pradesh.
Among others, who attended the panel discussions included Atul K Thakur, Deputy Secretary & Coordinator, SDC /India-Nepal Centre, PHDCCI; K C Gupta, Principal Secretary, MSMEs, Government of Madhya Pradesh; Nilesh Trivedi, Assistant Director, MSME, Ministry of MSME, Government of India; A K Rajoria, Director (Investment Promotion), Madhya Pradesh Tourism Board, Government of Madhya Pradesh; Nixon Joseph, President & Chief Operating Officer, SBI Foundation; Bikas Rauniyar, Executive Director, Interstate Multi-Modal Transport; Dr Anil Agrawal, Director, Sanwaria Consumer Limited; Nitin M Aras, Director, Odtin Foods (P) Ltd ; Manish Anand, CEO, Mithila Naturals Pvt Ltd.
The Summit hosted the key industry and government stakeholders who are either already involved with the industrial development of Nepal or have genuine urge to be part of it. Also, the Summit facilitated two-ways investment opportunities between India and Nepal through sensitising the Indian industry and investors (especially those located in Central India) and Nepalese counterparts to come in term with the strong possibilities that both India and Nepal offer unwaveringly for businesses and investments.
PHDCCI, established in 1905, is a proactive and dynamic National Apex Chamber, working at the policy and grass-root level across India and develop strong national and international linkages. Noticeably, PHDCCI has been closely working with the Government of Nepal and the leading industry bodies of Nepal. PHDCCI’s India-Nepal Centre is the only active institution that promotes two-way bilateral economic and business relations between India and Nepal.