Categories: Economy

Nepalese PM Deuba invites Indian companies to invest in Nepal

<p>
<strong>Nepalese Prime Minister Sher Bahadur Deuba has invited Indian companies to invest in Nepal especially in sectors such as hydropower, manufacturing, tourism, services, infrastructure, and agro-based industries.</strong></p>
<p>
“Nepal seeks to build a closer partnership with the Indian private sector. We desire to welcome more Indian investors in Nepal and invite them to be a meaningful part of our economic transformation,” Deuba said at a function organised by Confederation of Indian Industry. Deuba, who held a meeting with Prime Minister Narendra Modi and other senior ministers in New Delhi, added that Kathmandu has put in place policy measures to empower the private sector especially with low tariffs and simplified tax regime.</p>
<p>
India, which provides access and transit to Kathmandu to carry out trade, is among the largest sources of foreign investments into Nepal.</p>
<p>
<strong>Also read: <a href="https://www.indianarrative.com/world-news/caught-in-the-crossfire-of-rival-powers-nepal-s-deuba-heads-for-india-on-friday-161079.html">Caught in the crossfire of rival powers, Nepal's Deuba heads for India on Friday</a></strong></p>
<p>
The Birgunj-Raxaul corridor accounts for transit of around two thirds of Nepal's total trade.</p>
<p>
One of the key challenges for Deuba is to revive the Covid 19-hit economy.</p>
<p>
“India’s investments are huge in Nepal, especially in the hydropower sector. Though China has also started increasing its investments in Nepal, New Delhi must recharter its Kathmandu policy. It needs to continue to invest so that both countries benefit,” an Indian expatriate in Nepal, engaged with a power company, told India Narrative.</p>
<p>
According to a study by the Observer Research Foundation (ORF), more than 150 Indian ventures have been operating in Nepal, accounting for over 30 per cent of the country’s total FDI. The study noted that Indian firms have been working in all such areas as manufacturing, banking, insurance, education, telecom, power, tourism and various other sectors. Most of the Indian companies have set up joint ventures with local Nepalese firms.</p>

IN Bureau

Recent Posts

Foreign Secretary Vikram Misri visits UAE, thanks leadership for extending support following Pahalgam Terror attack

Foreign Secretary Vikram Misri paid a visit to Abu Dhabi, UAE on June 10. His…

10 hours ago

23 injured Indians transferred to Nairobi, post-mortem of 5 Indians completed: Indian Embassy in Qatar

The Indian Embassy in Qatar provided updates on the unfortunate accident which took place in…

12 hours ago

EAM Jaishankar meets European Parliament President Roberta Metsola; discusses trade, strategic partnerships

External Affairs Minister (EAM) S Jaishankar met the President of the European Parliament, Roberta Metsola,…

13 hours ago

India stresses free Indo-Pacific, joint action on terror at EAS meet in Malaysia

Secretary (East) P. Kumaran led the Indian delegation at the East Asia Summit (EAS) Senior…

16 hours ago

“Terrorism will eventually come back to haunt you,” says Jaishankar, urges global community to look beyond India-Pakistan lens on Kashmir attack

Indian External Affairs Minister S. Jaishankar, during his visit to Brussels this week, met European…

17 hours ago

Taiwanese NGOs hold 2030 wargame exercise simulating Chinese naval incursion

Three Taiwanese non-governmental organisations participated in a tabletop exercise on Tuesday that simulated dramatic escalations…

17 hours ago