Strengthening Ties: Nepal-India Joint Business Forum Focuses On Trade And Investment

The second meeting of the Nepal-India Joint Business Forum (JBF) was held in Chandragiri, Kathmandu. Representatives from both countries attended the meeting to strengthen economic and business ties. 

Welcoming the participants, FNCCI President Chandra Prasad Dhakal highlighted the immense potential for economic collaboration between Nepal and India. He emphasized the need to address issues through policy reforms and practical solutions. 

He talked about removing non-tariff barriers, facilitation for resolving challenges caused by the Bureau of Indian Standards (BIS) certification process for Nepalese exports, and the need to connect Indian cities with Nepal's Bhairahawa and Pokhara airports. He also highlighted the need for a smooth supply of materials required for hydropower and infrastructures projects in Nepal. 

Dhakal also requested better access to Indian ports, including Mundra (Gujrat), Dhamra (Odisha), and Jawaharlal Nehru (Mumbai). The forum discussed trade, investment, energy, tourism, agriculture, technology and infrastructure development. 

Both sides agreed to work together on energy projects like hydropower, solar, and wind energy. They also decided to improve tourism and connectivity by enhancing road, rail and air links, facilitate cross-border trade and investment, remove agricultural quotas, provide better seeds and technology, and promote research and commercalization of medicinal plants. They also agreed to support digital technologies and startups. 

The agreements made during the meeting handed over to Nepal's Commerce Secretary Govinda Karki and India's Commerce Secretary Sunil Bharthwal b the chairs of the forum, Bhawani Rana and N. Sunil Kumar. 

At a follow-up event, Nepal's Industry, Commerce, and Supplies Minister, Damodar Bhandari, called Nepal's largest trade partner and urged both sides to implement the agreements and address trade issues efficiently. Nepal's Commerce Secretary Govinda Karki emphasized the need to act on the decisions, while India's Commerce Secretary Bharthwal promised to push forward the agreed plans. 

FNCCI President Dhakal and Indian Ambassador to Nepal, Naveeen Srivastava, also stressed the importance of implementing the decisions to enhance trade and investment between two countries. JBF Nepal Chair Bhawani Rana said there is a huge opportunity for trade and investment between Nepal and India, which needs proper support and facilitation. 

From the Indian side, N. Sunil Kumar noted ongoing improvements in transportation links between two countries and assured more progress in the future. The next meeting of the Nepal-India Joint Business Forum will be held in New Delhi, India.