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April 29, 2024

India-Nepal Friendship: A Pillar for Development, Asserts Piyush Goyal

In a resounding endorsement of the enduring bond between India and Nepal, Union Minister for Commerce and Industry, Piyush Goyal, has emphasized India’s unwavering commitment to Nepal’s development. Addressing the third Nepal Investment Summit, Goyal reiterated that India has consistently stood as a reliable partner in Nepal’s journey towards progress and prosperity.

The video message delivered by Piyush Goyal during the summit underscored the deep-rooted friendship and mutual trust shared between the two nations. Beyond the geographical proximity, Goyal emphasized the strong historical ties that bind Nepal and India together, fostering a shared vision for a prosperous future.

Echoing Goyal’s sentiments, Indian Ambassador to Nepal, Naveen Srivastava, assured of India’s support in encouraging investment from Indian companies into Nepal. Speaking at the inaugural session of the Investment Summit in Kathmandu, Srivastava highlighted the importance of bilateral investment in not only enhancing trade facilities but also creating numerous opportunities for economic growth.

Ambassador Srivastava emphasized the significance of Nepal’s export of power to India as a testament to the collaborative spirit between the two nations. He reiterated India’s commitment to bolstering investment in Nepal across various sectors, including the establishment of integrated check posts, trans-border electricity transmission facilities, and energy trade.

“It is a matter of great satisfaction that India is today the biggest cumulative investor in Nepal,” stated Srivastava, citing figures that reveal India’s contribution, which amounts to nearly Nepali rupees 89 billion, constituting more than 33% of Nepal’s FDI stock.

The India-Nepal relationship has transcended mere geopolitical boundaries to become a robust partnership focused on mutual growth and development. Over the years, both countries have cooperated extensively in various sectors, ranging from infrastructure development to trade facilitation.

India’s commitment to Nepal’s progress is evident through initiatives like the establishment of integrated check posts, which aim to streamline cross-border trade and enhance connectivity. Additionally, efforts in trans-border electricity transmission and energy trade underscore the shared goal of harnessing resources for mutual benefit.

The Nepal Investment Summit serves as a platform for fostering greater collaboration between the two nations, facilitating dialogue, and catalyzing investment opportunities. With India’s support and participation, Nepal is poised to attract more foreign investment, spur economic growth, and create avenues for sustainable development.

As the world navigates through various challenges, including the ongoing COVID-19 pandemic, the resilience of the India-Nepal partnership remains steadfast. Both countries continue to stand shoulder to shoulder, reaffirming their commitment to each other’s prosperity and well-being.

In conclusion, Piyush Goyal’s reaffirmation of India’s commitment to Nepal’s development, echoed by Ambassador Srivastava’s assurances, highlights the enduring strength of the India-Nepal friendship. With shared goals and mutual trust, the partnership between the two nations continues to be a beacon of hope for regional stability and economic progress.

Jhumpa Lahiri

Jhumpa Lahiri

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