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
 
Comments (Total Comments 0) Post Comments Post Comment
Review
 
 
 
 
Addressing entrepreneurs, policymakers, technologists, and academics December 7 at the Carnegie India Global Technology Summit in Bengaluru, India's Foreign Secretary S. Jaishankar underscored the need to harness the power of technological change for faster economic development.
 
read-more
The strangest of the several barbs hurled hurdled at Pakistan during and after the recently concluded Heart of Asia conference at Amritsar, India,  was that Pakistan is trying to change perception about the Taliban writes Monish Gulati  
 
read-more
Actually, Modi is on to a long-term experiment in India. He and the government aim to re-engineer human souls and minds as much as socio-economic realities. writes Sudip Bhattacharyya for South Asia Monitor.
 
read-more
This has been a mind-boggling year for Europe. First Britain’s shock European Union referendum result and the ensuing backlash against immigrants seemed to signal the rise of the right in Europe. The certainty that the right was on a steady march to power seemed confirmed by the U.S. election result and was seized upon by right-w
 
read-more
Diplomacy can be quirky when not decidedly cold. Donald Trump has caused a flutter in the international roost weeks before his inaugural as the President of the United States of America. He himself has been left wondering how the  "US sells Taiwan billions of dollars of military equipment, but I should not accept a congratula
 
read-more
The Heart Of Asia conference in Amritsar called for immediate elimination of terrorism to help the war-ravaged country in its political and economic transition. Access the full text here...
 
read-more
China on Monday said that it was opposed to any breach of the Iran nuclear deal, opening up another possible avenue of friction with the United States once President-elect Donald Trump enters the White House.  
 
read-more
It is accepted conventional wisdom the world over, ever since well-known military theorist, Carl Von Clausewitz, first articulated the aphorism in the late 18th century that “war is a continuation of politics by other means”.  
 
read-more
Column-image

An aching sense of love, loss and yearning permeate this work of fiction which, however, reads like a personal narrative set in an intensely disruptive period of Indian history, and adds to the genre of partition literature, writes Ni...

 
Column-image

This is a path-breaking work on India's foreign policy since Narendra Modi became the Prime Minister in May 2014 and surprised everyone by taking virtual charge of the external affairs portfolio. A man who had been denied visa by some count...

 
Column-image

The pattern of Chinese actions on the global stage demonstrates that it lives by the credo of might is right, a potent tool in its armoury for the pursuit of aggressive designs, writes Sudip Talukdar for South Asia Monitor....

 
Column-image

The Tehrik-e-Taliban Pakistan, Lashkar-e-Taiba, Jaish-e-Mohammad and others of their ilk not only destabilise Pakistan and make it one of the world's most dangerous places but also threaten neighbouring Afghanistan and India -- and even far...

 
Subscribe to our newsletter
Archive