Bhopal (Madhya Pradesh) [India], July 13 (ANI): In affiliation with the Embassy of Nepal in India, PHDCCI India-Nepal Centre organised the ‘India-Nepal Economic Cooperation Meet 2025’ in Bhopal, Madhya Pradesh.
The assembly witnessed the presence of senior diplomats from Nepal, moreover senior authorities officers and trade leaders from Nepal.
Speaking on the event, Narendra Shivaji Patel, Minister of Public Health & Medical Education, Government of Madhya Pradesh stated, ‘To additional improve the bilateral financial cooperation and strengthening the bottom of Neplease companies in India (with deal with Madhya Pradesh and Central India at massive), the ‘India-Nepal Economic Cooperation Meet 2025’ is traditionally necessary this shall assist in additional bettering the ‘Ease of Doing Business’ between two pleasant international locations – India and Nepal. Madhya Pradesh and Nepal share a singular and particular cultural ties–and we’ll do all potential for additional enhancing it.’
Later, talking with ANI, Narendra Shivaji Patel stated such packages will strengthen India’s historic cultural relations and financial ties with Nepal.
‘Today this program of financial cooperation between India and Nepal has been accomplished by means of PHDCCI, which is a 200-year-old organisation of merchants. Today, a protracted dialogue was held among the many delegates of PHDCCI on how one can deepen the financial relations between India and Nepal and the way traders from each international locations ought to put money into one another. Certainly, by means of such packages, our deep and historic cultural relations with Nepal might be strengthened and people financial relations will even be deepened,’ Patel stated.
Atul Okay Thakur, Secretary, India-Nepal Centre, PHDCCI, in his opening remarks, stated, ‘Substantial progress has been achieved in recent times in key areas of India-Nepal bilateral cooperation particularly within the areas of connectivity–physical, digital, power 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.
He additionally highlighted the main outcomes of latest bilateral visits between each international locations, emhsising on connectivity initiatives resembling progress within the Integrated Check Posts at Nepalgunj, inauguration of a freight practice service between India and Nepal and progress on the Kurtha-Bijalpura and Raxual-Kathmandu railway line.
Atul Okay Thakur stated, ‘Some of the main outcomes of latest excessive degree visits embrace landmark connectivity initiatives resembling progress within the Integrated Check Posts at Nepalgunj, Bhairahawa and Dodhra-Chandni; inauguration of a freight practice service between India and Nepal, progress on the Kurtha-Bijalpura and Raxual-Kathmandu railway line; momentum on the Motihari – Amelekhgunj pipeline phase-II and building of a brand new petroleum pipeline from Siliguri to Jhapa and Amelekhgunj to Chitwan.
‘Major landmarks within the energy sector embrace the finalisation of the Long-Term Power Trade Agreement; finalisation of the trilateral energy commerce settlement between India, Nepal, and Bangladesh; and signing of agreements with respect to the event of recent hydropower Projects in Nepal by Indian builders, together with the 480 MW Phukot Karnali and the 669 MW Lower Arun. In the sphere of digital monetary connectivity, Nepal began accepting UPI funds since March 2024 by means of interoperability with FonePay QR of Nepal. National Payments Corporation of India Limited (NPCIL) and Nepal Clearing House Limited (NCHL) are working carefully to facilitate cross-border digital funds in a smoother manner, and that is opening a brand new chapter within the monetary expertise area,’ he added.
Nepalese diplomats Ambika Joshi, Minister Counsellor, Embassy of Nepal in India and Rabindra Jung Thapa, Counsellor (Economic), Embassy of Nepal in India shared within the presentation, ‘Indian corporations are among the many largest traders in Nepal, accounting for 35 per cent of the entire FDI stock in Nepal, price almost USD 777 million. Nepal is India’s seventeenth largest export vacation spot, up from twenty eighth place in 2014.India includes about 64.1 per cent of whole commerce of Nepal, equating to USD 7.87 billion USD (Indian FY 23-24)). This consists of USD 7.041 billion USD of exports from India to Nepal and USD 829.71 million USD of exports from Nepal to India. India is Nepal’s largest export vacation spot, receiving an awesome 67.9 per cent of its whole exports (as per annual information obtainable 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 principal imports from India are petroleum merchandise, Iron & Steel, Cereals, Vehicles and Parts, Machinery elements.’
He added, ‘There are about 150 Indian ventures working in Nepal engaged in manufacturing, companies (banking, insurance coverage, dry port, schooling and telecom), energy sector and tourism industries. India-Nepal partnership might be additional strengthened in all essential areas together with financial system, tradition and at people-to-people degree. The well-known Janki Temple in Janakpur was made by the queen of Tikamgadh (Madhya Pradesh) and this is likely one of the key examples of our shared previous with Madhya Pradesh and India. The Embassy of Nepal in India is absolutely supportive of enterprise and folks engagements between Nepal and India–and it calls the companies in Madhya Pradesh (and different elements of India) to discover investing and doing enterprise in Nepal for promising outcomes.’
Later, talking with ANI, Ambika Joshi stated, ‘Today’s program was targeted on exploring alternatives for tourism and funding in Nepal. We had an excellent interplay with Indian traders and the individuals from the Nepali group who’re rising entrepreneurs in Bhopal about collaborating for funding and tourism. I’m glad to share that past tourism or financial points, we additionally mentioned on the opportunity of collaboration within the cultural, medical and schooling sectors. So I’m very a lot inspired by this program.’
For acelerating India-Nepal bilateral financial cooperation, the ‘India-Nepal Economic Cooperation Meet 2025’ had detailed discussions, amongst others, on: Promoting Sustainable Industrial Development in Nepal and India; Revisiting Bilateral Trade Policies; Expanding Bilateral, Regional and Sub-regional Cooperation; Improving Border Area Development and Connectivity (Road, Railway & Air). (ANI)