PHDCCI India-Nepal Centre Organised “India-Nepal Economic Partnership Summit


Kathmandu, May 19:  Nepal-India Chamber of Commerce & Industry (NICCI) and PHD Chamber of Commerce & Industry (PHDCCI) jointly organized the highly-anticipated "India-Nepal Economic Partnership Summit 2023" in Birgunj, Nepal. The event on Thursday aimed at establishing a platform for in-depth discussions on bilateral economic partnerships.

Collaborating with Nepal SBI Bank Ltd (NSBL), Birgunj Chamber of Commerce and Industry (BCCI), and the Startup Network (TSN), the summit focused on fostering business engagement, attracting investments, and boosting trade along the India-Nepal border.

The summit witnessed the participation of key decision-makers and industry leaders who explored various areas of economic cooperation. The primary objectives of the summit were to facilitate deeper economic engagement between India and Nepal, promote investments in both countries, reinforce bilateral relations, and encourage collaboration between the government and industry for mutual benefits.

During the event, several significant topics were addressed, including remittance, imports, exports, and balance of payment. The summit also highlighted the Border Area Development Program, emphasizing connectivity and the infrastructural development of Nepal's bordering districts in Bihar to enhance India-Nepal trade connections. Additionally, discussions were held on the establishment of cluster-based economic zones, relaxation of cross-border trade norms, and the exploration of untapped potential for economic growth.

Atul K Thakur, Nodal Coordinator, India-Nepal Centre, PHDCCI, emphasized the need for collaboration among stakeholders to harness the economic potential and overcome post-pandemic challenges. 

Shreejana Rana, President of NICCI, underscored the importance of streamlining business procedures between the two nations. Ramesh Rijal, Minister for Industry, Commerce and Supplies of the Government of Nepal, assured necessary policy interventions to improve economic indicators and facilitate trade between India and Nepal.

Prominent figures such as Sushil Bhatta, CEO of Investment Board Nepal, and Satish Pattapu, Consul (Economic Cooperation & Commerce) from the Consulate General of India, shared valuable insights on economic cooperation and the challenges that need to be addressed. Representatives from Nepal SBI Bank Ltd highlighted the bank's initiatives to support Nepal's economy, including project finance and liquidity support.

The summit witnessed the active participation of various individuals, including parliament members, industry leaders, entrepreneurs, and journalists, who all contributed to the success of the event. The "India-Nepal Economic Partnership Summit 2023" concluded with the establishment of business linkages and partnerships, serving as a significant step toward strengthening bilateral relations and fostering economic cooperation between India and Nepal.

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