Birgunj [Nepal], August 28 (ANI): To speed up the bilateral financial cooperation for shared prosperity, PHDCCI, in affiliation with the Consulate General of India, Birgunj (Nepal) and different our bodies, organised ‘India-Nepal Economic Partnership Summit 2025’ in Birgunj, Nepal.
The occasion was additionally co-organised by the Nepal-India Chamber of Commerce and Industry (NICCI) Birgunj Chapter and the NADA Automobile Association of Nepal, Madhesh Pradesh, and the PHDCCI India-Nepal Centre.
The Summit witnessed the numerous presence of trade leaders from each India and Nepal, workplace bearers of NICCI, BiCCI, FNCCI, NADA, Chambers in neighbouring Indian state Bihar (India) and many others. Consul General of India, Birgunj (Nepal) and Vice Chairman, Madhesh Province Policy and Planning Commission, Government of Madhesh Province, Nepal, have been among the many key audio system.
Speaking on the event, the ‘Chief Guest and Keynote Speaker’, Devi Sahai Meena, Consul General of India, Birgunj (Nepal) offered a short overview of India-Nepal bilateral financial and commerce relations.
‘In order to facilitate the relation of financial and enterprise in between India and Nepal is diversified. This relation together with the geographical similarity has the social, non secular and cultural heritages. Both the nations have open border, there’s a sturdy relation in between the folks of each the nations, this uniqueness additional boosts and strengthens the enterprise and financial relation,’ Devi Sahai Meena, Consul General of India in Birgunj, Nepal stated.
He additionally emphasised that India has made outstanding progress in varied sectors of the economic system, and Nepali companies can profit by partnering with Indian companies.
Meena additional added, ‘To additional improve the bilateral financial cooperation and strengthening the bottom of Nepalese companies in India (with give attention to the India’s bordering states with Nepal), the ‘India-Nepal Economic Partnership Summit 2025’ is a crucial initiative that shall assist in additional bettering the ‘Ease of Doing Business’ between two pleasant countries- India and Nepal. India and Nepal share sturdy financial ties–and we’ll additional assist enhancing its base with improved connectivity and commerce transit amenities.’
Sohan Prasad Sha, Vice Chairman, Madhesh Province Policy and Planning Commission, Government of Madhesh Province, Nepal, stated ‘India’s severe consideration on Nepal’s funding aspiration is should for the true financial turnaround of Nepalese economic system. The Madhesh Pradesh authorities is doing all attainable to enhance the financial features in key sectors like tourism, meals processing, and renewable vitality. Madhesh Province Policy and Planning Commission, Government of Madhesh Province, Nepal, is preserving a data-centric policymaking strategy for knowledgeable selections for the financial growth of Madhesh Pradesh in addition to to enhance the cross-border commerce with India.’
Abhishek Choudhary, President, NICCI Birgunj Chapter, ‘India and Nepal share extra than simply geography, we share historical past, tradition and aspirations for a greater future. Our economies are deeply interlinked, and when one grows, the opposite additionally advantages. Today, we should look past commerce balances and give attention to creating win-win opportunities–whether it’s in manufacturing, agriculture, tourism, vitality, or digital commerce.’
‘Substantial progress has been achieved lately in key areas of India-Nepal bilateral cooperation, particularly within the areas of connectivity–physical, digital, vitality and people-to-people linkages This is manifested within the regular implementation of infrastructure tasks associated to roads, bridges, cross-border railways, Integrated Check Posts and petroleum pipelines,’ Atul Ok Thakur, Secretary, India-Nepal Centre, PHDCCI stated in his opening remarks.
Among different key audio system have been: Ashok Temani, President (Madhesh Pradesh), FNCCI; Hari Gautam, President, Birgunj Chamber of Commerce and Industries; Anil Kumar Agrawal, Immediate Past President, Birgunj Chamber of Commerce and Industries; Suman Shrestha, President, Chamber of Commerce and Industry-Chitwan; Kedar Kumar Agrawal, President, NADA Automobile Association of Nepal, Madhesh Pradesh; Rahul Agarwal, President Elect, NADA Automobile Association of Nepal-Madhesh Pradesh; Angad Singh, President, Motihari Chamber of Commerce (Bihar, India); Ranjeet Karn, Member of the Constituent Assembly (2013-17), Nepal; Architect and Urban Planner and Project Consultant; Bishwash Pratap Shah, President, NYEF (FNCCI) – Birgunj Chapter; Deepak Rauniar, Founder CEO, Oorja World; Mahesh Kumar Agrawal, Prominent Entrepreneur (Raxaul, Bihar, India); Narayan Prasad Homagai, Prominent Entrepreneur (Kolkata, India); Madhav Duwadi, Managing Director, Hotel Seven Star, Sauraha (Nepal); Manish Anand, CEO, Mithila Naturals Pvt Ltd (Madhubani, Bihar, India); Shiv Shankar Shah, Head-International Relations, Krupanidhi Group of Institutions and International Education Consultant; Krishna Kumar, Director, Parwati Buildtech Pvt Ltd (Patna, Bihar, India); Diwakar Kumar, Director, Vaisanavi Construction (Patna, Bihar, India); Niraj Agrawal, Vice President, NICCI Birgunj Chapter and Joint Treasurer, Birgunj Chamber of Commerce and Industries; Bhumi Raj Dhungana, Commercial Head, Berger Jenson and Nicholson (Nepal) Pvt Ltd; Rajendra Koirala, CEO, Gyanda Academy; Mohan Sharma, President, Jeetpur Simra Chamber of Commerce (Nepal).
Indian companies are among the many largest traders in Nepal, accounting for 35% of the entire FDI stock in Nepal, price practically USD 777 million. Nepal is India’s seventeenth largest export vacation spot, up from twenty eighth place in 2014.
India contains about 64.1% of the entire commerce of Nepal, equating to $7.87 billion USD (Indian FY 23-24). This consists of $7.041 billion USD of exports from India to Nepal and $829.71 million USD of exports from Nepal to India.
India is Nepal’s largest export vacation spot, receiving an awesome 67.9% of its whole exports (as per annual knowledge accessible from Nepal Rastra Bank (mid-August 2023-mid July, 2024). Nepal’s different massive export locations are the United States, Germany, Turkey, France, the UK, Australia, Italy, Japan and Canada.
Nepal’s exports primarily represent edible oil, espresso, tea and jute. Nepal’s predominant imports from India are petroleum merchandise, Iron and Steel, Cereal, Vehicles and Parts, and Machinery. There are about 150 Indian ventures working in Nepal engaged in manufacturing, companies (banking, insurance coverage, dry port, training and telecom), energy sector and tourism industries. India-Nepal partnership will likely be additional strengthened in all essential areas, together with economic system, tradition and on the people-to-people degree. (ANI)