The Nepal-India Chamber of Commerce and Industry (NICCI) and the Federation of Indian Chambers of Commerce and Industry (FICCI) have signed a Memorandum of Understanding (MoU) to jointly promote trade, investment, and cross-border business engagement.
The agreement, signed in New Delhi by NICCI President Sunil KC and FICCI Director General Jyoti Vij, aims to institutionalize cooperation between the two apex industry bodies through the exchange of business delegations, information sharing, and joint promotional events. Under the terms of the MoU, both organizations have agreed to facilitate reciprocal participation of business representatives in trade missions, investment forums, fairs, and exhibitions held in each country.
NICCI will remain as a Nepal partner for FICCI in Nepal and FICCI will remain as an Indian partner on an exclusive basis for India, according to the understanding. The two sides will also regularly share non-confidential publications and data relevant to trade and investment prospects.
“We will organize at least one major joint event every year and facilitate the exchange of business delegations between Nepal and India,” said Sunil KC, president of NICCI. “Our partnership will also include joint studies, market surveys, and publication exchanges focused on identifying emerging areas of mutual economic interest.”
FICCI Director General Jyoti Vij echoed similar sentiments, emphasizing the shared responsibility of both institutions in fostering closer economic ties.
“As leading business organizations in our respective countries, both FICCI and NICCI are committed to strengthening the trade and investment relationship between India and Nepal,” she said.
The MoU marks a formal step toward reinforcing long-standing economic interdependence between the two neighbors, with both organizations pledging to work closely to unlock the potential of untapped sectors and address challenges faced by businesses operating across borders.
Both the chambers will work beyond India and Nepal like in BBIN, BIMSTEC and NICCI members will utilize all the resources and networks of FICCI in expanding Nepal’s business and economy, according to the MoU.
“Our partnership is not limited to only bilateral trade and economic relations, it’s beyond that,” NICCI president KC said. “We are also going to establish NICCI-FICCI track 1.5 initiative to promote the bilateral investments, where both FICCI Members and both governments’ members will be a part of the initiative to foster the investments and bridging the 1990s investment gaps.”
