Nepal Embassy and PHDCCI India-Nepal Centre organises ‘Economic Cooperation Meet’ in Bhopal

Bhopal: In association with the Embassy of Nepal in India, PHDCCI India-Nepal Centre organized the “India-Nepal Economic Cooperation Meet 2025” in Bhopal, Madhya Pradesh. The meeting witnessed the presence of senior diplomats from Nepal, besides senior government officials and industry leaders from Nepal. Speaking on the occasion, Narendra Shivaji Patel, Minister of Public Health & Medical Education, Government of Madhya Pradesh said, "To further enhance the bilateral economic cooperation and strengthening the base of Neplease businesses in India (with focus on Madhya Pradesh and Central India at large), the 'India-Nepal Economic Cooperation Meet 2025' is historically important this shall help in further improving the 'Ease of Doing Business' between two friendly countries - India and Nepal. Madhya Pradesh and Nepal share a unique and special cultural ties--and we will do all possible for further enhancing it."

Later, speaking with ANI, Narendra Shivaji Patel said such programmes will strengthen India’s ancient cultural relations and economic ties with Nepal.

"Today this programme of economic cooperation between India and Nepal has been completed through PHDCCI, which is a 200-year-old organisation of traders. Today, a long discussion was held among the delegates of PHDCCI on how to deepen the economic relations between India and Nepal and how investors from both countries should invest in each other. Certainly, through such programs, our deep and ancient cultural relations with Nepal will be strengthened and those economic relations will also be deepened," Patel said.

Atul K Thakur, Secretary, India-Nepal Centre, PHDCCI, in his opening remarks, said, "Substantial progress has been achieved in recent years in key areas of India-Nepal bilateral cooperation especially in the areas of connectivity--physical, digital, energy and people-to-people linkages. This is manifested in the steady implementation of infrastructure projects related to roads, bridges, cross-border railways, Integrated Check Posts and petroleum pipelines.

He also highlighted the major outcomes of recent bilateral visits between both countries, emphasizing on connectivity initiatives such as progress in the Integrated Check Posts at Nepalgunj, inauguration of a freight train service between India and Nepal and progress on the Kurtha-Bijalpura and Raxual-Kathmandu railway line.

Nepalese diplomats Ambika Joshi, Minister Counsellor, Embassy of Nepal in India and Rabindra Jung Thapa, Counsellor (Economic), Embassy of Nepal in India shared in the presentation, "Indian firms are among the largest investors in Nepal, accounting for 35 per cent of the total FDI stock in Nepal, worth nearly USD 777 million. Nepal is India's 17th largest export destination, up from 28th position in 2014.India comprises about 64.1 per cent of total trade of Nepal, equating to USD 7.87 billion USD (Indian FY 23-24)). This includes USD 7.041 billion USD of exports from India to Nepal and USD 829.71 million USD of exports from Nepal to India. India is Nepal's largest export destination, receiving an overwhelming 67.9 percent of its total exports (as per annual data available from Nepal Rastra Bank (mid-August 2023-mid July, 2024). Nepal's other large export destinations are the United States, Germany, Turkey, France, the UK, Australia, Italy, Japan and Canada. Nepal's exports mainly constitute edible oil, coffee, tea and jute. Nepal's main imports from India are petroleum products, Iron & Steel, Cereals, Vehicles and Parts, Machinery parts." (ANI)

Also Read: Nepal asks citizens to carry valid documents while travelling via India

Also Watch: