KATHMANDU, Apr 30: In an effort to strengthen economic partnerships, the Embassy of India here, in collaboration with the Investment Board of Nepal (IBN) and the Nepal India Chamber of Commerce and Industry (NICCI), hosted a Business-to-Business (B2B) meeting on Tuesday.
The meeting attended by 35 delegates from the Millenium India International Chamber of Commerce and Industry (MICCIA) and NICCI covered energy, agriculture, construction, tourism, cold chain, medical devices, finance, consultancy and law sectors, according to a press release issued by the Indian Embassy.
Speaking on the occasion, Shreejana Rana, President, NICCI identified hydropower, tourism and agriculture as potential areas for cooperation between Indian and Nepali businesses.
“Ambassador Anil Trigunayat, President, MICCIA appreciated the recent bilateral connectivity initiatives and the importance of B2B connections in taking the India-Nepal Economic Partnership forward.”
Ramesh Adhikari, Under Secretary, IBN summarising the meeting welcomed Indian investors to conduct business in Nepal.
He appreciated more than 50 members strong Indian delegation from FICCI, CII, ICC, MICCIA as well as several individual businesses who had productive meetings at the 3rd Nepal Investment Summit from April 28-29 April.
The B2B meeting witnessed the signing of an MOU for cooperation between MICCIA and NICCI.
On Sunday, Prime Minister Pushpa Kamal Dahal ‘Prachanda’ inaugurated a key investment summit here that saw the participation of around 1,800 people from various countries, including 140 from India.
Inaugurating the third edition of the Nepal Investment Summit 2024 with the theme ‘Emerging Nepal’, Prachanda also said that Nepal is a potential country for investment from legal, geographical and strategic perspectives.
The two-day summit witnessed the signing of MoUs between Nepal and its development partners and foreign investors.
In 2017, Nepal hosted the first investment summit, drawing investment commitments worth USD 13.5 billion from different countries.
Similarly, the second investment summit held in 2019 secured nearly USD 12 billion for 50 projects. However, only one-third of the commitments were realised in actual practice.
Over 200 investors from China and over 140 from India are attending the two-day summit. (PTI)
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