Indian Ambassador to Nepal Jayant Prasad Saturday said India strongly supports the vision of secure, prosperous and democratic Nepal and expressed hope that Nepali people and political leaders would be able to resolve the thorny issues.
(From left) Minister for Industry Anil Jha, Indian Ambassador to Nepal Jayant Prasad, Ministe…
Speaking at the ‘Foreign Policy Conclave’ organised by the Ministry of External Affairs of India in association with the Federation of Indian Chambers of Commerce and Industries (FICCI) in Kathmandu, ambassador Prasad said that India would stand by the Nepali people and partner them in their development efforts.
“The Indian government is trying to forge close ties between the business communities of the both countries so that Nepal can benefit from India’s economic growth,” he added.
If Nepal develops industries targeting exports and services to Indian states of Bihar and Uttar Pradesh, Nepal can possibly become a rich country within the next two decades, the Indian ambassador further said.
Stating that the only solution for Nepal is to develop its impressive hydropower potential which can dramatically transform the economic condition of this country, he also informed that India will bring $15 billion investment within 4 to 5 years.
He also mentioned that the recent India visit of PM Baburam Bhattarai has built the foundation for partnership based on mutual interest.
According to Prasad, Nepal’s export to India has grown of late, particularly in the last three months at a rate faster than with any other country due to favourable access provided by India.
India is Nepal’s major trading partner with an annual turnover of $4.1 billion, 65 percent of Nepal export goes to India and around 58 percent of Nepal’s total import is from India. Similarly, India accounts for 46 percent of Nepal’s direct foreign investment. nepalnews.com