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Need for roadshows in India to project investment scope in Nepal: Ambassador Ranjit Rae
Mar 20, 2018
'The time is ripe for a targeted approach towards attracting investments from India'
NEW DELHI, 20 March 2018: Nepal needs to be pro-active in creating awareness amongst the Indian business of the opportunities in that country through regular road shows, former Indian Ambassador to Nepal, Mr. Ranjit Rae, said here today.
Addressing a group of senior Nepalese print and electronic media persons under the aegis of the Federation of Indian Chambers of Commerce and Industry (FICCI), Ambassador Rae said that it would be wrong to assume that investment opportunities were limited in Nepal. The success stories of a host of Indian companies doing business in Nepal counters this perception. The time is ripe for a targeted approach towards attracting investments from India, he said.
Mr. Rae suggested that FICCI and its counterpart chamber in Nepal should join hands in preparing a list of concrete projects that would be attractive for Indian companies so that investments could fructify expeditiously.
The journalists from Nepal are on a week-long familiarisation visit to India to enhance awareness of the country's economy and business. FICCI on its part, presented to them a snapshot of the Indian economy and the nature of India���s economic and business engagement with Nepal.
Ambassador Rae admitted that in the past, Indian companies have faced problems with regard to the protection of patents which have held them back from investing in Nepal. Another issue was labour law that gave the impression that the country was anti-capital. He was optimistic that the new political dispensation in Nepal would promote inward investments and Indian companies would respond positively.
Mr. Deepak Amitabh, CMD, Power Trading Corporation of India, in his remarks, emphasised the need for both countries to work together in the energy sector. With its expertise in generating hydropower, Nepal should identify hydel power projects and forge business partnerships with India, he said. There was ample trained manpower and technology in India and both countries could profit from collaboration in the energy space, said Mr. Amitabh.
The session was moderated by Mr. Rahul Sharma, Deputy Secretary General, FICCI.
India is Nepal's largest trading partner. Bilateral trade between India and Nepal has grown from US$ 3631.94 million in 2012-13 to US$ 5892.72 million in 2016-17, a jump of nearly 63% in four years.
FICCI has been instrumental in promoting bilateral trade and investments between the two sides