Beti Exchange – Sunil KC is the Vice President of the Nepal-India Chamber of Commerce and Industry (NICCI) and a Global Investment Advisor at the Federation of Nepalese Chambers of Commerce and Industry (FNCI).
“Despite the epidemic, last fiscal year, Nepal’s exports to India increased by 50 per cent and India’s exports to Nepal increased by 32 per cent,” said Sunil Casey. Will last year with INR 6 trillion and $ 6 trillion.
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The Roti-Beti partnership between India and Nepal should be taken to the next level as the state of Hylian offers huge opportunities for Indian investors in areas ranging from energy to infrared to tourism Sunil KC Vice Chairman of the Armed Forces Council Nepal – India & ap; Industry (NICCI) & Advisor for the Protection of International Investment in Nepal The Council on Obligations & Industries (FNCCI) told ET’s Dipanjan Roy Chaudhury during a visit to India by P Sher Bahadur Deuba Friday evening.
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Nepal and India are very different in size, population, economy and technological development are closely related. The two countries are natural partners and have great potential for developing their relationship. We can further strengthen cooperation in trade, investment, energy, tourism and infrastructure.
The main purpose of the NICCI is to ensure India’s joint investment and economic ties through strong bilateral relations and cooperation between Nepal and India. NICCI is a platform to address the challenges that Eber faces and also represents relevant authorities to work on industry-related issues. The NICCI is the only institution established in Nepal to act to protect India’s investment.
The organization is working closely with the Nepalese administration and the two countries’ diplomatic affairs. Our aim is to develop Nepal as a strong destination for foreign investors, especially from India, to help with bilateral trade and transit issues. Bilateral tourist protection. NICCI helps Indian investors find business and agricultural partners in Nepal.
Can you explain the economic cooperation between the two countries? Before 1996, Nepal’s trade with India was 1/3 of Nepal’s total international trade. Exports to India are less than 5 billion INR and India’s exports to Nepal are less than 15 billion INR. Therefore, Nepal’s export trade ratio is 3: 1. In the year, the main purpose of the 1996 trade agreement under the ‘Gujral doctrine’ was to provide duty-free shipping to India for Nepal’s noisy industrial base in the FNCCI. CII and NICCI. The agreement has been widely hailed as a “landmark” by the business fraternity of Nepal and India and has established a strong lifeline in the business environment, attracting investment in Nepal and India as well as abroad. The first term of the agreement is for seven years a “golden year” in the field of foreign direct investment, in line with the objectives of the agreement for industrial development in Nepal.
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Supported by the spirit of Nepal’s international trade agreement with India, it has accounted for two-thirds of its trade, extending Nepal’s international trade ratio with 150+ countries for more than 15 years. Here I would like to point out that India is often Nepal’s “single largest trading partner”, but I think India should be considered “Nepal’s largest single export partner”. This is evidenced by the people of the two countries above for public relations only, the border is more than 1,800 kilometers long for trade and economic exchanges between the two countries, supported by trade and transport agreements and road service agreements. Steel backed by 22 land storage points, as well as agreements and other agreements.
In the history of Nepal’s exports to India, it recently crossed the “Trillion” mark. Due to the two bilateral offerings, Nepal has become one of India’s award winners. Despite the shock, Nepal’s remittances to India rose 50 per cent last year and India’s remittances to Nepal rose 32 per cent to 6 trillion INR. Now our focus is on export growth with mineral value products.
He pointed to a “golden phase” in the history of investment in Nepal after the 1996 trade agreement. Can you find an Indian company that invested in the same period?
There are many interesting companies from India and abroad in the 1990s in Nepal. Despite a 10-year uprising in Nepal, they returned the charitable donors to the Nepal National Treasury and found a “blue chip” company in Capital Markets Technologies. To name a few, Dabur Nepal, Unilever Nepal Limited, Surya Nepal (sister of ITC India), Asia Colors Nepal, Burger Jensen & Nicholson Nepal, Kansai Colors Nepal, ART Stripes, Ashok Steel Industries, Gorkha Lahari, Pro-Biotech Industries Gorkha Brewery Nepal Highland Distillery Nepal Sungold Nepal Beer United Breweries United Breweries Nepal United Spirits Nepal Beverages Varun Nepal Everest International Hotel Hyatt Regency Nepal SBI Bank Limited Everest Bank Limited National Bank Punjab Standard Chartered Bank Nepal Limited, Dependency Spinning Illnesses, Life Insurance Company (LIC) Nepal, Asia Pacific Communication Associates Nepal, Topson Nepal and more. Oriental Insurance Co., Ltd. And National Insurance Co., Ltd. Present in Nepal. Dabur Nepal recently invested 9 billion NRs from the Nepal Investment Board for further expansion.
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That’s what worries him. India has secured a place in Nepal in terms of annual FDI transfers to Nepal five to six years ago, but India remains top when it comes to almost all of Nepal’s inflows. We believe that funds from India are strong enough to achieve FDI. But that does not mean that Nepal has received OPTU investment from India. We do not get more than 0.005% of India’s total investment flow worldwide. Nepal has received less than 1 trillion NRs from India so far in 2020/2021, according to data from the FDI department of the industry, but sources from Chinese investors in recent years This is close to 1.5 trillion NRs. Until last year.
Both the public and private sectors in Nepal since the 1990s have been interested in welcoming new Indian companies to Nepal. For this, we at NICCI in collaboration with the Nepal Investment Council, institutions and industry departments have developed the ‘Nepal-India Partnership Suite’, which focuses directly on India in Nepal, which we have already prepared. Discussion with partner agencies.
Nepal is a country with a wide and diverse potential for investment. According to a technical report, it is estimated to have a hydropower potential of about 0.2 billion IW, but with the exception of GR, no private sector in India has tried to tap this huge potential as India desperately needs it. More energy for industrialization and dotic needs. The Government of Nepal has awarded the Arun 3 Cascade 679 egawatt project to SJVN, a low-cost Arun hydropower project. Bangladesh is approaching the construction of 1110 W Sunkoshi II and 550 W Sunkoshi III projects, focusing on the 9000 W power procurement plan from Nepal by 2040. Also, the Nepalese government is developing new guidelines for exports to Nepal, with changes and grid plans, developers can support the idea of exporting directly to India or third countries after Build. So the potential for hydropower in Nepal is huge.
We have a wide range of medicines and fuels, but we need local, regional and international value and quality Ayurveda edicine.
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Also, due to its biodiversity, Nepal is considered a good destination for investment in tourism.
Because we are talking about FDI and technology transfer, construction and infrastructure such as roads, tunnels, bridges, construction of new airports and upgrading of existing airports, construction and operation of ICD and ICP, we have export processing areas. In all seven regions. Such as the construction and operation of the East West Railway and the Birgunj Katandu Railway, health cooperation for quality hospitals in seven provinces, cooperation in Anagent and information technology for quality education and cooperation in Running a cheap youth IT company in Nepal. The insurance sector and other manufacturing sectors where special EPZs can also be taken for Indian investors.
NICCI has also developed and updated an investment manual in collaboration with IBAS India in Katandu.
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