The new Deputy Chief of Mission (DCM) of Embassy of India in Kathmandu Dr. Rakesh Pandey has suggested to increase the formal and informal engagements with stakeholders for greater flow of information between India and Nepal.
Interacting with Nepal-India Chamber of Commerce and Industry (NICCI) during a Roundtable Meeting here in Kathmandu today, Dr Pandey also suggested sector wise, if possible, monthly meetings for enabling environment for more investment.
Dr Pandey suggested NICCI to increase engagements with partner associations in Nepal, and commence studies on strengths and requirements of both the countries. “NICCI should do study on complementarities and present to the leaderships of both the countries to take further steps,” he said, adding that connectivity – both physical and digital – will help create more enabling environment. “Let’s build on traditional strengths and let’s also work for new areas.”
During the interaction, first secretary (Commerce) at the Indian Embassy in Kathmandu Suman Shekhar also spoke about the bilateral engagements.
Likewise, NICCI president Sunil KC, while welcoming Dr Pandey, highlighted the Indian investments in Nepal. “India is fast fast-growing economy and Nepal can take advantage from the neighbor's rise,” he added.
On the occasion, highlighting the historical engagement of NICCI and the Indian Embassy in Kathmandu, NICCI vice president Ravi Rayavaram, said that around 35 percent of the total Foreign Direct Investment (FDI) stock comes from India.
During the Round Table, the NICCI members shed light on issues related to trade and transit, Intellectual Property Rights (IPR), and most importantly, the gap in the FDI from India, of late – especially of the private sector – though the government-to-government investment in hydropower is happening, and a plethora of issues related to Nepal, India trade and economic relations.
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