Indian Economy News

India trustworthy partner for Nepal's development, says Piyush Goyal

  • IBEF
  • April 29, 2024

Union Minister of Commerce & Industry, Consumer Affairs, Food and Public Distribution and Textiles, Mr. Piyush Goyal, reaffirmed India's steadfast commitment to Nepal's developmental journey during his address at the third Nepal Investment Summit. He underscored the enduring friendship and shared aspirations for prosperity between the two nations, emphasizing India's role as a reliable partner in Nepal's growth trajectory.

In a video message, Union Minister of Commerce & Industry, Consumer Affairs, Food, and Public Distribution and Textiles, Mr. Piyush Goyal, highlighted the deep-rooted bond between Nepal and India, expressing India's unwavering support for Nepal's development endeavours. He stressed the importance of the bilateral relationship in terms of geographical proximity and fostering a strong and mutually beneficial partnership.

Moreover, H.E Indian Ambassador to Nepal, Mr. Naveen Srivastava, echoed the sentiments by assuring continued support for Nepalese investment. He emphasized the potential for bolstering trade ties and creating new avenues for economic cooperation between the two countries. He also highlighted India's substantial contribution to Nepal's economic landscape, citing India as the largest cumulative investor in Nepal, with investments exceeding 33% of Nepal's foreign direct investment stock. He expressed India's commitment to further enhancing investment in Nepal, reflecting the shared vision for sustainable development and prosperity in the region.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.