Indian investment dipping due to insecurity: Ambassador Upadhyay

BHAIRAHAWA: Nepal’s Ambassador to India, Deep Kumar Upadhyay, has noted that the rate of Indian investment in Nepal has dipped due to insecurity towards investment felt by the Indian investors.

Speaking at an interactive programme held on Monday in Bhairahawa by the District Administration Office (DAO), Rupandehi, ambassador Upadhyay blamed the prime reason of the falling rate of Indian investment in Nepal as shown by the recently concluded investment summit in Kathmandu to ‘investment insecurity’.

The Nepali envoy spoke of the trend of general strikes piling up on the challenges facing the investment security.

Stating that the postal highway would soon be built with Indian support, the ambassador urged the local authorities to play a role in removing the encroachment on both sides of the postal highway.

He said millions of Nepali speaking Indian nationals wanted prosperity in Nepal while adding that there would not be a crisis of oil in Nepal again with the new agreement sealed between Indian Oil Corporation (IOC) and Nepal Oil Corporation (NOC).

Upadhyay said the Indian currency notes related problems were continuing due to elections taking place in India and assured that all banned Indian notes would be exchanged in Nepal soon.

Rupandehi Chief District Officer (CDO), Binod Prakash Singh, Bhairahawa Customs Office Chief including trade representatives urged the ambassador to make efforts to contain contraband supply at the border, stopping the human trafficking in name of DD and BinBin company and facilitating the opening of bank accounts in India. RSS

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