Foreign investment commitment from India declined 51.42 percent in the last fiscal year 2019-20, compared to the previous fiscal year, largely due to bureaucratic red tape that has dented investors' confidence, according to Indian business officials.

According to Nepal's Department of Industry, the country received foreign investment commitments worth Rs3.24 billion in the last fiscal year from India, down from Rs6.67 billion in the previous fiscal year.

There were 16 foreign direct investment proposals from India in the last fiscal year, with pledges mainly targeting hotels with restaurants, manufacturing industry, construction industry and software development. This is a sharp decrease in the number of investment commitment proposals in 2018-19 which stood at 50.

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