24 Jan, New Delhi / Embassy of Nepal in India along with Uma Ventures based in Silicon Valley, USA organized a conference inviting the Indian investment and business community to learn about investment and business opportunities in Nepal. The organizers had invited the Indian businesses doing business in Nepal or interested in doing business in Nepal to attend.
“Nepal is strategically located between India and Nepal. Nepal shares an open border with India. There are many treaties that Nepal and India have jointly signed to facilitate cross-border business.”, said Ambassador Upadhyay. There are thousands of international businesses operating out of Nepal. India represents the largest portion of foreign investment in Nepal. Similar statement was echoed by Deputy Chief of Mission Krishna Prasad Dhakal.
Dhakal continued by saying that the signing of the India-Nepal Treaty of Peace and Friendship in 1950 established the framework for the unique ties between India and Nepal. India is Nepal’s important trade partner. India is also a major source country of Nepal’s foreign direct investment. Due to geographical proximity, socio-cultural linkages and increased interactions between the two peoples, trade, commerce and economic cooperation have been expanding along with the growth in other aspects of bilateral relationship.
Shrivastav had urged the speakers at the conference to speak “the good, the bad and the ugly” realities of doing business in Nepal. Honest dialogues with the business leaders helps the regulators to understand their issues and make necessary adjustments in the system, Shrivastav system, “This conference was very beneficial for the Embassy as well as the guests. It brought foreign perspectives”, said the Deputy Chief of Mission.