Nepal and India Host B2B Meeting to Boost Economic Partnerships

In a significant move to bolster economic ties, the Embassy of India, in collaboration with the Investment Board of Nepal (IBN) and the Nepal India Chamber of Commerce and Industry (NICCI), orchestrated a Business-to-Business (B2B) meeting. This event, held on Tuesday, saw participation from 35 delegates representing various sectors such as energy, agriculture, construction, tourism, cold chain, medical devices, finance, consultancy, and law. The meeting aimed at exploring potential areas for cooperation between Indian and Nepali businesses.

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Shreejana Rana, President of NICCI, highlighted hydropower, tourism, and agriculture as key sectors ripe for collaboration. Ambassador Anil Trigunayat, President of the Millenium India International Chamber of Commerce and Industry (MICCIA), lauded the recent initiatives aimed at enhancing bilateral connectivity and underscored the significance of B2B connections in advancing the India-Nepal Economic Partnership. Ramesh Adhikari, Under Secretary at IBN, extended a warm welcome to Indian investors to explore business opportunities in Nepal.

The gathering also celebrated the signing of a Memorandum of Understanding (MOU) between MICCIA and NICCI, marking a milestone in the ongoing efforts to strengthen economic partnerships. This event was part of a broader engagement that included the 3rd Nepal Investment Summit. Prime Minister Pushpa Kamal Dahal 'Prachanda' inaugurated this key summit on Sunday, which attracted around 1,800 participants from various countries, including 140 delegates from India.

The summit, themed 'Emerging Nepal', aimed to showcase Nepal as a country ripe for investment from legal, geographical, and strategic perspectives. It facilitated the signing of MoUs between Nepal and its development partners as well as foreign investors. The first investment summit in 2017 attracted investment commitments worth USD 13.5 billion from different countries. The subsequent summit in 2019 saw nearly USD 12 billion pledged for 50 projects. However, only one-third of these commitments materialized into actual investments.

With over 200 investors from China and more than 140 from India attending the two-day summit, it underscores the growing interest in Nepal's investment potential. The B2B meeting and the investment summit collectively represent a significant step forward in strengthening the economic partnership between India and Nepal.