By Press Trust of India: Nepal Prime Minister Pushpa Kamal Dahal ‘Prachanda’ on Thursday said huge enterprise options are there for merchants and sought Indian investments in different sectors similar to mining, manufacturing, agriculture, energy, tourism, infrastructure, information experience and hospitality.
He said that abundance of pure sources, huge pool of human capital, a promising market with sound insurance coverage insurance policies and regulatory framework makes Nepal an ideal partaking trip spot for funding.
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“No countries other than Nepal and India share such an intimate friendship and deep rooted cultural affinity providing an excitingly favourite business environment. Moreover, the two governments are moving ahead with bold decisions to transform the development landscape. This needs to be echoed by the private sector which is a powerful engine of growth,” he said proper right here whereas addressing CII’s India-Nepal Business Summit.
Opportunities for investments all through quite a lot of areas along with mining, manufacturing, agriculture, energy, tourism, infrastructure and hospitality commerce is correct right here.
He moreover said that Nepal’s abroad funding protection is liberal and forward making an attempt and it has opened just about every sector for overseas investments.
“Nepal is a virgin land for investment. We are still at a nascent stage of industrialisation. Investment in every sector is profitable,” the prime minister said, together with Nepal presents low customs duties, simplified tax regime, and full repatriation of earnings.
“We assure you full protection of investment. We will continue reforming our investment regime. We have put in place an automated route for FDI approval. The Nepal central bank clears the repatriation within 7 days. The investment board of Nepal provides one-stop service for the large scale investments,” he said.
He moreover said that stylish infrastructure at border areas presents options for cross border investments and industrialisation.
Vast funding options are there inside the hydro power sector moreover.
An settlement in long-term power commerce has been completed and this settlement makes the flexibility commerce between India and Nepal further predictable, “thereby encouraging more investments in Nepal in the hydro power sector,” he said.
The 900-MW Arun-III enterprise with Indian funding is nearing completion and a variety of different completely different power initiatives will certainly generate modern momentum in harnessing water sources in Nepal.
“We should have to create a new history in our cooperation in this sector. On trade and transit, we are upgrading cross border connectivity infrastructure. The integrated check post, road and rail connectivity are being built to further ease the flow of goods and services,” he added.
On the aviation sector moreover, the prime minister said that two new airports are ready along with one in Pokhara and “I encourage the airline companies to operate air service between various cities of India and Nepal,” he said.
Speaking on the event, commerce and commerce minister Piyush Goyal said that huge potential is there for MSMEs of every the nations to increase cooperation.
Prime Minister Narendra Modi and his Nepalese counterpart Pushpakamal Dahal ‘Prachanda’ on Thursday vowed to resolve the vexed boundary dispute under the spirit of friendship while the two sides signed a variety of principal pacts along with one on rising New Delhi’s import of power from the neighbouring nation to 10,000 mega watt inside the subsequent 10 years.
In the wide-ranging talks between Modi and Prachanda, the Indian side agreed to the first trilateral power commerce from Nepal to Bangladesh via India for as a lot as 40 mega watt of power, a switch that is seen as a serious step within the path of guaranteeing bigger regional cooperation.
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In entire, India and Nepal signed seven pacts which included a revised treaty of transit.
The Nepalese chief arrived proper right here on Wednesday on a four-day go to.
The nation shares a border of over 1,850 kilometres with 5 Indian states — Sikkim, West Bengal, Bihar, Uttar Pradesh and Uttarakhand.
Land-locked Nepal relies upon intently on India for the transportation of merchandise and suppliers.
The bilateral commerce between the nations stood at USD 8.9 billion in 2022-23 as in opposition to USD 11 billion in 2021-22.
