At the recent third Nepal Investment Summit, Union Minister for Commerce and Industry, Piyush Goyal, conveyed India's steadfast support for Nepal's development, emphasizing India's historical role as a reliable partner to Nepal's growth. Goyal underscored the strong ties and camaraderie between the two nations, stating that India has always been a trustworthy friend to Nepal in its development journey.
During the opening session of the Investment Summit, Indian Ambassador to Nepal, Naveen Srivastava, reassured attendees of India's encouragement for Indian companies to invest in Nepal, highlighting the positive impact such investments would have on both countries' trade relations. Srivastava emphasized the importance of boosting trade and creating more opportunities by promoting investment from India to Nepal, particularly pointing out the significance of Nepal's power exports to India in strengthening bilateral ties. He also reiterated India's commitment to increasing investments in Nepal moving forward and highlighted the collaborative efforts between the two nations in various sectors, such as infrastructure development and energy trade.
Srivastava expressed his satisfaction in India being the largest cumulative investor in Nepal, accounting for over a third of Nepal's FDI stock, which presently amounts to nearly Nepali rupees 89 billion. These statements from Indian officials at the summit reinforced the mutual commitment of Nepal and India towards fostering economic cooperation and sustainable development across various sectors for the benefit of both nations.