India trustworthy development partner for Nepal: Minister Goyal

Union Minister for Commerce and Industry, Piyush Goyal has stated that India has always been a trusted partner for Nepal's development.

While addressing the third Nepal Investment Summit, Piyush Goyal in a video message stated that Nepal and India have a strong bond and India always has been a trustworthy friend in development.

Goyal also reiterated that Nepal and India not only share a border but also a deep-rooted friendship and a vision for a prosperous future.

While addressing the inaugural session of the Investment Summit, Indian Ambassador to Nepal, Naveen Srivastava, assured of encouraging Indian companies to invest in Nepal.

In his address to the opening session of the Third Nepal Investment Summit 2024 in Kathmandu on Sunday, Srivastava emphasised that promoting investment in Nepal from India would not only boost trade facilities but also create more trade opportunities. He highlighted the significance of Nepal's export of power to India to enrich bilateral relations.

He reiterated India's commitment to enhancing investment in Nepal in the coming days. He said that Nepal and India are actively collaborating in various sectors, including the establishment of integrated check posts, trans-border electricity transmission facilities and energy trade.

Srivastava said, "It is a matter of great satisfaction that India is today the biggest cumulative investor in Nepal with more than 33 per cent of Nepal's FDI stock currently amounting to nearly Nepali rupees 89 billion."

(ANI)