FB   
 
Powered bysps
        Society for Policy Studies
 
 

 
Nepal PM invites Indian investment, says a lot lost due to agitation
Posted:Jan 10, 2016
 
Print
Share
  
increase Font size decrease Font size
 
Ahead of his visit to India next month, Nepal Prime Minister K.P. Sharma Oli on Sunday invited Indian businessmen to invest in the Himalayan nation, saying it had lost a lot due to the agitation in the Terai region and that all steps will be taken to create an investor-friendly environment.
 
Interacting with a group of visiting Indian journalists here, Oli said Nepal had lost revenue and income due to the more than four-month-old Madhesi agitation in the southern Terai plains of the country.
 
"I request the business community of India to come here. Of course, due to the unrest in the Terai, we lost a lot... not billions but trillions of rupees. We lost income, revenue... No industry is earning now but we will immediately create an investment-friendly situation," Oli promised.
The southern plains have been simmering with protests against the new Constitution for more than four months now. Over 55 people, including agitators and police personnel, have been killed during the agitation by the Madhesi community.
 
The Madhesi protestors are demanding, among other things, a redrawing of the boundaries of the provinces as proposed in the new Constitution and representation in parliament on the basis of population.
 
Nepal's Left government has held more than a score of rounds of talks with leaders of the Samyukta Loktantrik Madhesi Morcha, which is spearheading the agitation, but without any breakthrough so far.
 
Oli said Nepal and India can work together for shared prosperity for entire South Asia.
 
"We want to work together with India not only for Nepal but for South Asia. We want to make a developed south Asia because this is a very rich and beautiful part of the world. We can develop it. In this 21st century, we can reach the height of modernisation," he said.
 
Oli said South Asia had a "huge population" and there were no apprehensions about existence of market for business ventures.
 
"But we have to develop our feeling in that way... So that we can work together and enjoy better future together. I will like to invite the business community to work together for better future of Nepal, India and South Asia," he said.
 
"Nepal is committed and honestly wants to create an investment-friendly atmosphere," he said.
 
According to data from the Indian embassy here, Indian firms are the biggest investors in Nepal, accounting for about 38.3 percent of Nepal's total approved foreign direct investment.
 
There are about 150 operating Indian ventures in Nepal engaged in manufacturing and services that include banking, insurance, education and telecom besides power and tourism sectors.
 
Bilateral trade, which was 29.8 percent of Nepal's total external trade in 1995-96, reached 66 percent in 2013-14. Exports from Nepal to India were worth $605 million in 2013-14 and India's exports to Nepal were $4.81 billion-worth during the same fiscal.
 
Nepal's Deputy Prime Minister -- and Foreign Minister -- Kamal Thapa had earlier this month announced that Oli will in February embark on his first foreign visit post-assumption of office to India.
 
The Statesman, January 11, 2016
 
 
 
 
Print
Share
  
increase Font size decrease Font size
 

Disclaimer: South Asia Monitor does not accept responsibility for the views or ideology expressed in any article, signed or unsigned, which appears on its site. What it does accept is responsibility for giving it a chance to appear and enter the public discourse.
Comments (Total Comments 0) Post Comments Post Comment
Review
 
 
 
 
spotlight image Indonesia’s President Joko Widodo has confirmed his presence for the occasion. In an exclusive interview with INDIA REVIEW & ANALYSIS, Indonesia’s Ambassador to India, Sidharto R.Suryodipuro, reminded Nilova Roy Chaudhury that the first Chief Guest for India’s Republic Day celebrations, in 1950, w
 
read-more
The words of Ho Chi Minh  “Nothing is more precious than independence and liberty” rang true for the people of the erstwhile East Pakistan when, with increasing brutality, the West Pakistani oppression spread across the land, writes Anwar A Khan from Dhaka
 
read-more
In a significant boost to New Delhi's Act East Policy, India and Japan set up the Act East Forum on Tuesday as agreed during Japanese Prime Minister Shinzo Abe's visit to India this year for the annual bilateral meeting that would help to focus and catalyse development in India's Northeast.
 
read-more
  United States Secretary of State Rex Tillerson reiterated on Friday Washington's warning that “all options are on the table” to meet North Korea's nuclear threat while offering to keep the lines of communication with Pyongyang open.
 
read-more
What is commonly referred to as the “border dispute” between India and China manifests itself in two distinct and separate areas of contention. One is Aksai Chin, a virtually uninhabited high-altitude desert expanse of about 37,000 square kilometres. The other is what is now the Indian state of Arunachal Pradesh,
 
read-more
The first thing that one sees when a flight approaches New Delhi is thick smog that envelopes the city and its lack of greenery.  In almost all other major cities of India lack of greenery is the most obvious sight that one sees when approaching it by air.
 
read-more

Pakistan has agreed to allow the rupee to depreciate after holding talks with the International Mone­tary Fund (IMF) on the country's economy.

 
read-more

Two major global changes in the past year; the ‘Brexit’ referendum and the advent of Donald Trump, writes Sandeep Kaur Bhatia

 
read-more

It is also imperative for India to explore other regions for markets. Its trade deficit with Latin America has been narrowing. Also, its trade with Mexico, Colombia and Guatemala has increased, ...

 
read-more
Column-image

Over the last 25 years, India's explosive economic growth has vaulted it into the ranks of the world's emerging major powers. Long plagued by endemic poverty, until the 1990s the Indian economy was also hamstrung by a burdensome regulat...

 
Column-image

Title: A Ticket to Syria; Author: Shirish Thorat; Publisher: Bloomsbury India: Pages: 254; Price: Rs 399

 
Column-image

Gorichen, a majestic peak in the Eastern Himalayas at an altitude of 22,500 feet, is the highest in Arunachal Pradesh. Beautiful to look at and providing a fantastic view from the top, it is extremely tough climb for mountaineers.

 
Column-image

It is often conjectured if the reason for long-standing conflicts and insurgencies, in the developing world, especially South Asia, is not only other powers fishing in troubled waters but also the keenness of arms industries, mostly Western, to...

 
Column-image

Title: The People Next Door -The Curious History of India-Pakistan Relations; Author: T.C.A. Raghavan; Publisher: HarperCollins ; Pages: 361; Price: Rs 699