The Embassy of Nepal in India (EoNI) and India-Nepal Centre (INC), PHD Chamber of Commerce and Industry (PHDCCI) on Tuesday organized India-Nepal Partnership Summit 2022 to celebrate India’s 75th year of independence and further deepening India-Nepal bilateral ties.
“Civilizational links and geographical links are the key elements which can help to energize and reinvent the bilateral relations between India and Nepal,” said K V Rajan, Chairman of India-Nepal Centre, PHDCCI and India’s Former Ambassador to Nepal in his opening remarks, read a statement issued by the PHD Chamber of Commerce and Industry.
“Tourism is the mainstay of the Nepal economy and religious tourism is one of the key contributors to the Nepalis tourism industry. The relationship between two countries is very strong but this is the time when we have to think on accommodating the aspirations with changing times and further strengthen it. Our relationship should be nurtured,” said the chief guest and keynote speaker Dr Shankar Prasad Sharma, Nepal’s Ambassador to India. Dr Sharma said that trade deficit between two countries remains a matter of concern, energy and agriculture sectors.
“In April 2022, Nepal's PM Sher Bahadur Deuba visited India which generated various opportunities for both the countries and built mutual interests including for infrastructure development and economic partnership, trade, health and power. For post-pandemic economic rebounding in both countries, a positive environment that is created with the Prime Minister's visits from both sides in recent times will be utmost crucial,” said Ram Prasad Subedi, Deputy Chief of Mission, Embassy of Nepal in India.
“Nepal has already begun exporting 177 MW of energy to India via the power exchange market. The tourism sector of India plays a significant role in the economic multiplier and becomes critical since India has to grow at rapid rates and create employment opportunities for its fellow citizens,” he added.
“The objective of today’s conference is to foster relationships and deepen the links, boosting the growth and prosperity of both sides. India is Nepal's largest trade partner and the largest source of FDI, besides majorly providing transit for third-country trade of Nepal. There are three key areas where both nations are working right now are Trade Facilitation, Deepening Energy Cooperation and Cross Border Connectivity,” said Anurag Srivastava, Joint Secretary (North), Ministry of External Affairs, Government of India.
He added, “Nepal becomes the 4th Country to use the RUPAY card after UAE, Bhutan and Singapore and the ways are being explored to further support financial connectivity. Also, it is vital to note the progress with the projects like railways (Jayanagar-Bardibas), Terai roads, Integrated Check Posts (ICPs), post-earthquake reconstructions.”
“India has been putting best efforts for fostering bilateral ties with Nepal and with a view that we have aligned objectives. We should prioritise three areas of cooperation: Energy Trade; Bio-agri and connectivity. Also we have to cooperate on climate change front,” said Jayant Prasad, India’s Former Ambassador to Nepal.
“Nepal is facing the challenges with financial liquidity and balance of payment, SBI (through NSBL) is doing its best to support the industry to overcome them. On the other hand, it is also true that SBI's most profitable business outside India is in Nepal and that broadly reflects on the bright possibilities Nepal’s market offers,” Anukool Bhatnagar, Chief General Manager and Head-Nepal Desk, SBI.
“SBI is deeply committed to backward-forward linkages, smooth financial transactions, banking safety, financial inclusion and sustainable development goals. With the Arun-III power project and many others, SBI has been contributing to Nepal’s development and India-Nepal relations at large,” he added.
