“India-Nepal Economic Partnership Summit 2024” holds at Chitwan

By TRN Online, Kathmandu, Dec 16:  “India-Nepal Economic Partnership Summit 2024” has been organised today at Chitwan. 

A joint press release of Chamber of Commerce & Industry and “India-Nepal Centre”, PHD Chamber of Commerce and Industry (PHDCCI) today stated that to create a uniquely important platform for discussing a forward looking bilateral economic partnership agenda, in association with the Consulate General of India (Birgunj, Nepal) and Chamber of Commerce & Industry-Chitwan (CCIC) and under the aegis of its bilateral economic Think Tank “India-Nepal Centre”, PHD Chamber of Commerce and Industry (PHDCCI) organised the “India-Nepal Economic Partnership Summit 2024” on 16 December 2024 at CCIC Headquarter, Chitwan, Nepal. 

While setting the tone of the Summit with interpreting the existing macroeconomic scenario of Nepal, the Session Chair Atul K Thakur, Secretary, India-Nepal Centre, PHDCCI reflected on the necessity for having a collaborative approach among the stakeholders’ in the government and industry to tap the rich potential and also cope the challenges in post-pandemic times through India-Nepal economic cooperation. With emphasis on the Summit’s dwelt discussion points (New Roadmap for Accelerating India-Nepal Bilateral Cooperation; Promoting Industrial Development in Nepal and India; Revisiting Bilateral Trade Policies; Expanding Bilateral and Sub-regional Economic Cooperation; Improving Border Area Development and Connectivity), the discussions took place during the Summit.

 In his opening remarks, Suman Shrestha, President, Chamber of Commerce & Industry-Chitwan (CCIC) acknowledged that industrial development of Nepal is affected by the adverse economic fundamentals and that it necessitates closer collaboration between the business communities of India and Nepal. He dwelt on CCIC’s remarkable contributions for the sustainable industrial development in Chitwan region and reassured for further deepening of India-Nepal bilateral economic cooperation with keeping the industries in Chitwan open for closer business partnerships.

 Anil Kumar Agrawal, President, Birgunj Chamber of Commerce & Industries (BICCI) recounted Birgunj’s achievements as a major trade hub of Nepal and how BICCI has been contributing over the decades in making the industry and trade, the mainstay of this place crucially important for India-Nepal economic relations. He said that, with the PHDCCI India-Nepal Centre, such bilateral economic forums will be a regular exercise to help the bilateral economic ecosystem between India and Nepal.

 Devi Sahai Meena, Consul General of India, Birgunj, Nepal reassured India's support to accelerate the economic cooperation between India and Nepal. Through policy and implementation, India has been a key development partner of Nepal. He said, “ Government of India is providing assistance for development of cross-border trade related infrastructure. It includes up-gradation of four major Integrated Check Posts at Birgunj-Raxaul, Biratnagar-Jogbani, Bhairahawa-Sunauli and Nepalgunj-Rupaidiha to international standards; upgrading approach highways to the border on the Indian side; broad gauging and extending rail links to Nepal. Integrated Check Posts at Birgunj and Biratnagar are fully functional. Nepalgunj-Rupaidiha ICP has also been inaugurated by the Prime Ministers of both the countries on 1 June 2023, construction work of the integrated check post at the Sunauli-Bhairahawa border has started at the same time. The Jaynagar–Janakpur–Bardibas cross border railway line between India and Nepal has been reopened after upgradation. This line is operational now between Jaynagar and Kurtha and will be extended upto Bardibas.  Motihar – Raxaul-Amlekhganj petroleum pipeline is transporting diesel to Nepal.  This  pipeline project between India and Nepal is the first of its kind in the entire South Asia and was jointly inaugurated by Prime Ministers of India and Nepal on 10.9.2019.  Muzaffarpur – Dhalkebar 400 KV power transmission line built with Govt of Inida’s grant assistance was inaugurated by Prime Ministers of both the countries in 2016.  The line is operating at its full capacity.  Similarly Raxaul – Parwanipur Cross Border Transmission line built with Govt of India grant is also operational.” He added that the India-Nepal relations are supported with complementarities and people-to-people, something that should be counted as strong foundational support. He also shared an overview of the main constituents of economic cooperation and challenges at policy level that need to be tackled. 

 Among others, the “India-Nepal Economic Partnership Summit 2024” was also addressed by the leading expert on Nepal affairs Mahesh Kumar Agrawal, Bihar State Coordinator, Seema Jagran Manch; Atul Koirala, Board Member, BP Koirala India-Nepal Foundation & Techno-Entrepreneur and Anand Jha, Vice President (Head of Government Engagement: India & South Asia), Visa.

  Well-timed and meant to foster the border trade with emphasis on bilateral and subregional economic cooperation, the second edition of “India-Nepal Economic Partnership Summit 2024” concluded at Chitwan with providing business linkages and partnerships.