Tuesday, 29 November, 2022

Envoy to India urged to facilitate power trade


By A Staff Reporter
Kathmandu, Mar. 25: The Confederation of Nepalese Industries (CNI) has urged the newly appointed Ambassador to India, Dr. Shankar Prasad Sharma, to take forward effective measures in the areas of increasing investment in Nepal, facilitating electricity trade between the two countries, promoting tourism and reducing trade deficit.

In order to further expand the economic relations between the two countries, the CNI urged to focus on creating a working environment in public-private partnership so that Nepal can reap maximum benefits from it.

In the discussion programme with the newly appointed Ambassador Sharma, CNI president Vishnu Kumar Agrawal said that despite the possibility of investment in Nepal, Indian investment has not come in a satisfactory manner.

"The sector of productive and infrastructure development in Nepal can be made an attractive destination for Indian investors. Let the government and the private sector work together in this regard," said Agrawal.
He stressed on the need for Nepal to attract Indian tourists, investors and big companies to manage the current imbalances in the economy.

"The presence of big international companies helps in changing the image of the country. When India's big companies in information technology, manufacturing and other sectors enter Nepal, their message to the international community will be different, so we have to attract them to Nepal," he said Nepal has a high trade deficit with India as it is the largest trading partner of Nepal. The CNI has also emphasised on easy export of Nepali goods to reduce it.

Similarly, the Confederation has requested Ambassador Sharma to facilitate the export of electricity from Nepal as there is high demand for energy in the Indian market.
During the discussion, Ambassador Sharma said that the government and the private sector could work together by identifying areas for investment and export growth.
He said that he would take initiative to facilitate investment by expanding relations between the private sectors of the two countries.

"I am not satisfied with some of our legal provisions. It is necessary to make them investor-friendly by amending them," he said. "It is necessary to facilitate investors by making necessary policy and legal provisions."
During the discussion, the outgoing president of the CNI Satish Kumar More said that there is a possibility of exporting cement from Nepal to India.

He stressed on the need to promote religious tourism as the two countries are not only neighbours but also very close socially and culturally.
Former president of the CNI Hari Bhakta Sharma stressed on the need for timely changes in the treaty agreement between the two countries.

During the discussion programme, the CNI provided various suggestions to Ambassador Sharma for expanding economic relations between the two countries.