India is a reliable partner for Nepal’s development, says Piyush Goyal

Union Minister of State for Commerce and Industry Piyush Goyal has stated that India has always been a trusted partner for Nepal’s development.

Speaking at the 3rd Nepal Investment Summit, Piyush Goyal stated in a video message that Nepal and India have a strong bond and India has always been a reliable friend in development.

Goyal also reiterated that Nepal and India share not just a border but also a deep-rooted friendship and a vision of a prosperous future.

Speaking at the opening session of the Investment Summit, Indian Ambassador to Nepal Naveen Srivastava assured that he would encourage Indian companies to invest in Nepal.

In his address at the opening session of the Third Nepal Investment Summit 2024 in Kathmandu on Sunday, Srivastava emphasized that promoting investment in Nepal from India would not only enhance trade facilities but also create more trade opportunities. He stressed the importance of Nepal’s power export to India to enrich bilateral relations.

He reiterated India’s commitment to increase investment in Nepal in the coming days. He said Nepal and India are actively cooperating in various sectors, including establishment of integrated checkpoints, cross-border electricity transmission facilities and energy trading.

Srivastava said, “It is a matter of great satisfaction that India is the largest cumulative investor in Nepal today, with over 33 percent of Nepal’s foreign direct investment, which currently stands at nearly 89 billion Nepalese rupees.

(Only the headline and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)

First print: April 29, 2024 | 6:44 am IST