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Indo-Nepal trade to touch $10 b in next 5 years

KOLKATA, (The Hindu): The bilateral trade between India and Nepal may touch $10 billion over the next five years. In 2011-12, the two-way trade stood at nearly $3 billion.

“Our trade with India witnessed good growth. Nepal has great investment potential in sectors such as hydro power, tourism and exotic agricultural products,” Mr K. N. Adhikari, Acting Ambassador of Nepal to India, told reporters here on Thursday.

He was attending a seminar on doing business with Nepal, organised by the Confederation of Indian Industry.

Mr Adhikari said that Nepal was preparing an outline for 50 viable projects for investment and has formed a special board to attract foreign investments into the country. Currently, India contributes nearly 44 per cent to Nepal’s total approved foreign investment.

He pointed out that the trade between two countries will also get a boost with the political instability subsiding in Nepal. The country will observe 2012-13 as Nepal Investment Year.

Published Date: Thursday, July 5th, 2012 | 12:22 PM

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