Monday, 21st April 2014

Call for briding trade deficit between Nepal and India

Privacy Policy

Visiting Indian Commerce Secretary SR Rao has said that India would leave no stone unturned in removing the mutual trade deficit with Nepal.

Speaking at an interaction organized on the eve of the Secretary-level Indo-Nepal Inter-Government Committee meeting jointly by the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and Confederation of Indian Industry (CII) here Friday, he said both the countries should work together to remove the obstacles in foreign investment.

Likewise, Commerce Secretary Madhav Prasad Regmi called for capital investment in hydropower, agriculture, information technology and infrastructure development in Nepal.

President of CII Deepak Amitabh said Indian industrialists are willing to invest in Nepal and so are working to collaborate at the government and business level.

He also expressed the view that Nepal could be expanded as an international hospitality centre, and urged Nepal government and industrialists to work towards that end.

Former Chair of FNCCI Padma Jyoti said as India is the largest business partner of Nepal, the economy here could fall at risk if immediate steps were not taken to bridge the trade deficit between the two countries.

Meanwhile, Minister for New and Renewable Energy, Central Government of India Farooq Abdullah arrived in the capital this evening on a two-day official visit.

Upon his arrival at Tribhuvan University Airport, he was welcomed by Indian Ambassador to Nepal, Ranjit Rae, senior officials of the Embassy of India here and Nepal government high-ranking government officials.

According to the Embassy of India, during his stay in Nepal, Mr Abdullah is scheduled to call on President Dr Ram Baran Yadav and Chairman of the Council of Ministers, Khil Raj Regmi.

Similarly, he is scheduled to have separate meeting with Minister for Finance, Industry and Commerce Shanker Prasad Koirala and others.

The Indian Minister observed the Trade Investment fair at local Bhrikutimandap organised by the Government of India and Indian Embassy today.

The fair showcases productions of 60 noted electric companies of India.