The Prime Minister emphasized that Nepal's foreign investment policy is liberal and forward-looking, with almost every sector open for overseas investments.
New Delhi : Nepal's Prime Minister, Pushpa Kamal Dahal 'Prachanda', expressed the immense business potential and invited Indian investors to explore various sectors in Nepal, including mining, manufacturing, agriculture, energy, tourism, infrastructure, information technology, and hospitality. He highlighted Nepal's abundance of natural resources, a large pool of human capital, a promising market, and a sound policy and regulatory framework, making it an attractive investment destination. Prachanda emphasized the strong friendship and cultural ties between Nepal and India, stating that both governments are making bold decisions to transform the development landscape, and urged the private sector to contribute as a powerful engine of growth.
The Prime Minister emphasized that Nepal's foreign investment policy is liberal and forward-looking, with almost every sector open for overseas investments. He described Nepal as a virgin land for investment, still in its early stages of industrialization, and highlighted the profitability of investments across all sectors. Nepal offers low customs duties, a simplified tax regime, and full repatriation of income, ensuring protection and support for investors. Prachanda mentioned that Nepal's investment regime is continuously being reformed, with an automated route for foreign direct investment (FDI) approval, the Nepal central bank clearing repatriation within 7 days, and the investment board of Nepal providing one-stop services for large-scale investments.
The Prime Minister emphasized the opportunities for cross-border investments and industrialization due to modern infrastructure at border areas. He also highlighted the vast investment opportunities in the hydro power sector and mentioned the completion of the 900-MW Arun-III project with Indian investment. Prachanda expressed the importance of creating a new history of cooperation in the power sector and highlighted the efforts to upgrade cross-border connectivity infrastructure for trade and transit.
In the aviation sector, Prachanda mentioned the readiness of two new airports, including one in Pokhara, and encouraged airline companies to operate air services between various cities of India and Nepal. Commerce and Industry Minister Piyush Goyal also acknowledged the significant potential for cooperation between the Micro, Small, and Medium Enterprises (MSMEs) of both countries.
During the talks between Prime Minister Narendra Modi and Prachanda, both leaders vowed to resolve the boundary dispute in a spirit of friendship. Several major agreements were signed, including an agreement to increase India's import of power from Nepal to 10,000 megawatts in the next 10 years. The talks also led to the first trilateral power trade from Nepal to Bangladesh through India, fostering greater regional cooperation.
With a shared border of over 1,850 kilometers with five Indian states, Nepal heavily relies on India for the transportation of goods and services. The bilateral trade between the two countries stood at USD 8.9 billion in 2022-23, slightly lower than USD 11 billion in 2021-22.
Overall, the statements and agreements between the leaders of India and Nepal demonstrate the willingness to enhance cooperation, boost investments, and resolve issues for the benefit of both nations.
New Delhi : Nepal's Prime Minister, Pushpa Kamal Dahal 'Prachanda', expressed the immense business potential and invited Indian investors to explore various sectors in Nepal, including mining, manufacturing, agriculture, energy, tourism, infrastructure, information technology, and hospitality. He highlighted Nepal's abundance of natural resources, a large pool of human capital, a promising market, and a sound policy and regulatory framework, making it an attractive investment destination. Prachanda emphasized the strong friendship and cultural ties between Nepal and India, stating that both governments are making bold decisions to transform the development landscape, and urged the private sector to contribute as a powerful engine of growth.
The Prime Minister emphasized that Nepal's foreign investment policy is liberal and forward-looking, with almost every sector open for overseas investments. He described Nepal as a virgin land for investment, still in its early stages of industrialization, and highlighted the profitability of investments across all sectors. Nepal offers low customs duties, a simplified tax regime, and full repatriation of income, ensuring protection and support for investors. Prachanda mentioned that Nepal's investment regime is continuously being reformed, with an automated route for foreign direct investment (FDI) approval, the Nepal central bank clearing repatriation within 7 days, and the investment board of Nepal providing one-stop services for large-scale investments.
The Prime Minister emphasized the opportunities for cross-border investments and industrialization due to modern infrastructure at border areas. He also highlighted the vast investment opportunities in the hydro power sector and mentioned the completion of the 900-MW Arun-III project with Indian investment. Prachanda expressed the importance of creating a new history of cooperation in the power sector and highlighted the efforts to upgrade cross-border connectivity infrastructure for trade and transit.
In the aviation sector, Prachanda mentioned the readiness of two new airports, including one in Pokhara, and encouraged airline companies to operate air services between various cities of India and Nepal. Commerce and Industry Minister Piyush Goyal also acknowledged the significant potential for cooperation between the Micro, Small, and Medium Enterprises (MSMEs) of both countries.
During the talks between Prime Minister Narendra Modi and Prachanda, both leaders vowed to resolve the boundary dispute in a spirit of friendship. Several major agreements were signed, including an agreement to increase India's import of power from Nepal to 10,000 megawatts in the next 10 years. The talks also led to the first trilateral power trade from Nepal to Bangladesh through India, fostering greater regional cooperation.
With a shared border of over 1,850 kilometers with five Indian states, Nepal heavily relies on India for the transportation of goods and services. The bilateral trade between the two countries stood at USD 8.9 billion in 2022-23, slightly lower than USD 11 billion in 2021-22.
Overall, the statements and agreements between the leaders of India and Nepal demonstrate the willingness to enhance cooperation, boost investments, and resolve issues for the benefit of both nations.
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