The honorable finance minister of India, Arun Jaitley, on Thursday (02/03/2016) said that India will make numerous investments in various sectors in Nepal in the near future. This move, according to Jaitley, will promote peace and bilateral relationships between the two countries. This announcement was made when Mr. Jaitley delivered his speech at the ‘Nepal Investment Summit – 2017’. Mr. Jaitley has also spoken to Nepal’s president, Bidhya Devi Bhandari and other Nepalese ministers regarding this. Read more on Arun Jaitley
In his meeting with the Nepalese President and other Nepalese ministers, Arun Jaitley said that FDIs were very important to developing economies like India and Nepal. He also said that India will invest a lot in various sectors in Nepal in the near future and help it in its endeavors and aspirations. The Nepalese ministers thanked Mr. Jaitley for India’s support to Nepal in constructing roads, extension of cross-border transmission lines, constructing bridges and for funding the Arun 3 project in which the Indian Government invested ₹570 crores. They also urged India to invest in Nepal’s hydropower, tourism and agriculture sectors.
“India is committed to partner with Nepal in its aspirations for growth, to invest in hydropower, to connect with India’s rail network, irrigation, health and education sectors, transmission lines, roads and bridges and others”, Arun Jaitley said.
India has proposed five cross border railway lines with Nepal. Two of which include a direct rail link between Delhi and Kathmandu and Kolkata and Kathmandu. Jaitley said, “Hardworking people of Nepal, the government and the positive policy framework are a great opportunities for investment. The country can be developed by proper utilization of natural resources”. Jaitley added that there was scope for investment in Nepal’s energy, agriculture, tourism and irrigation sectors. Mr. Jaitley also urged Nepal to relax its FDI norms and adopt a durable tax policy to attract more foreign investments. He added that doing so will give a boost to the country’s economy and infrastructure. Read more on Startup News