To strengthen economic ties between Bharat and Nepal, the Bharatiya Embassy in Kathmandu joined hands with the Investment Board of Nepal (IBN) and the Nepal India Chamber of Commerce and Industry (NICCI) to host a post-investment summit Bharat-Nepal Business-to-Business (B2B) Meet on Tuesday.
The event served as a platform for 35 delegates from the Millenium India International Chamber of Commerce and Industry (MICCIA) and the Nepal India Chamber of Commerce and Industry to converge, representing a diverse array of sectors including energy, agriculture, construction, tourism, cold chain, medical devices, finance, consultancy, and law.
Identifying Key Areas for Cooperation
During the meeting, Shreejana Rana, President of NICCI, underscored hydropower, tourism, and agriculture as promising sectors for collaboration between Bharatiya and Nepali businesses.
This strategic identification aims to leverage the strengths and resources of both countries for mutual benefit and sustainable growth.
Emphasis on Bilateral Connectivity and B2B Engagement
Ambassador Anil Trigunayat, President of MICCIA, commended recent efforts in enhancing bilateral connectivity and highlighted the pivotal role of B2B connections in advancing the Bharat-Nepal Economic Partnership. Such engagements serve as catalysts for fostering deeper understanding, trust, and collaboration between the business communities of both countries.
Welcoming Bharatiya Investors and Facilitating Collaboration
Ramesh Adhikari, Under Secretary of IBN, extended a warm invitation to Bharatiya investors, encouraging them to explore business opportunities in Nepal.
He expressed gratitude for the robust participation of Bharatiya delegates, comprising over 50 members from esteemed organizations such as FICCI, CII, ICC, MICCIA, and individual businesses, who engaged in fruitful discussions during the 3rd Nepal Investment Summit held from April 28 to 29, 2024.
Memorandum of Understanding (MOU) for Enhanced Cooperation
A significant milestone of the B2B meeting was the signing of a memorandum of understanding (MOU) between MICCIA and NICCI, marking a formal commitment to bolster collaboration and partnership between the two chambers of commerce.
This agreement sets the stage for deeper engagement and joint initiatives aimed at promoting trade and investment between India and Nepal.
Resource Sharing and Information Dissemination
Additionally, the B2B meeting facilitated the dissemination of valuable resources to Bharatiya delegates. They were provided with copies of the 3rd edition of the Handbook for Bharatiya Investors Investing in Nepal, which had been unveiled the day before by Mr. Barshaman Pun, Honorable Finance Minister of Nepal.
This handbook serves as a comprehensive guide, offering insights and information essential for Bharatiya investors seeking to explore opportunities in Nepal’s market.
Overall, the Bharat-Nepal B2B Meet served as a platform for meaningful dialogue, collaboration, and the exploration of avenues for mutually beneficial economic cooperation. With renewed commitment and concerted efforts from both sides, the partnership between Bharat and Nepal is poised to flourish, driving inclusive growth and prosperity in the region.
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