"India dominates investment landscape in Nepal:" Insights from Nepal Ambassador to India Shankar Prasad Sharma

New Delhi, Apr 12: The Ambassador of Nepal to India, Shankar Prasad Sharma, has called for Indian business community to consider investing in Nepal, and added that New Delhi is the number one place to promote investing in the Himalayan nation.

While addressing the media at an "Industry Outreach Meet" organized at New Delhi, the envoy said, "The largest investor in Nepal is India. One-third of the total investment is from India... India is the number one place to promote investing in Nepal." He said that Indian investors should be interested in going to Nepal and investing in the hydropower sector.

"If they need more skilled people in Nepal, they can bring them from India as there is no requirement for a passport or visa... Nepal has started exporting electricity to India. So, Indian investors should be interested in going to Nepal and investing in the hydropower sector." he said. The envoy invited Indian businessmen to Nepal at the "Industry Outreach Meet" organised here in the national capital, on Thursday, by the Embassy of Nepal in India and PHDCCI India-Nepal Centre. The event is held prior to Nepal Investment Summit 2024, which will be held on April 28-29 in Kathmandu.

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About the promising investment opportunities in Nepal, Ambassador Sharma, and Sushil Bhatta, CEO, Investment Board Nepal, made the detailed presentations. Showing high interest in Nepal as a natural investment destination from India, the programme witnessed the overwhelming participation of leading industry captains and decision-makers from the government.

The Nepal Investment Summit will convene distinguished national and international speakers, dignitaries, sector-specific experts, and, notably, high-level representatives from the government, private sector, and development partners.

Why & how is India Nepal's largest investor?

To begin with the geography of the two nations, India and Nepal share a long border, and their proximity facilitates easier trade and investment. Indian businesses find it convenient to operate in Nepal due to the geographical closeness. The deep-rooted cultural, religious, and historical connections that exist between the two neighbours foster strong bilateral relationships and open doors to investment opportunities.

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Both India & Nepal have multiple trade and economic agreements that facilitate easier investment flows between them. Besides, India particularly, in line with its 'Look East Policy' and 'Neighbourhood First Policy', has been investing in Nepal's infrastructure projects such as roads, railways, and hydropower projects. These investments benefit and serve interests of both the countries.

The trade relationship between the two countries is robust, with India being Nepal's largest trading partner. Investment in Nepal helps strengthen trade ties and ensures the smooth flow of goods across borders.