“Tamil Nadu is an emerging State. We would like to have good relationship and co-operation with Indian States in the field of tourism, ICT and hydro-power,” said Secretary to the Ministry of Science and Technology, Government of Nepal, Ramhari Aryal on Thursday.
Speaking at a session on ‘Business opportunities in Nepal' organised by the Confederation of Indian Industry (CII), he said that Nepal had recently rolled out an industry policy to create conducive environment for industrial growth. It encouraged public-private-partnership and foreign direct investment in different sectors by providing attractive tax incentives. Mentioning that he was asked regularly about the political conditions by the foreign investors, he said, “Political and industrial situations in Nepal are totally different. The flow of investment depends on stable industry policy and programmes. The political situation in Nepal is improving.”
Deputy Chief of Mission, Embassy of Nepal, Khaganath Adhikari, said that most of their dealings were with northern States of India while they would like to establish business contacts with vibrant southern states.
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High-powered business delegation
Being part of a high-powered business delegation, he said, “Indian business community is showing increasing interest to do business in Nepal. We are getting at least 10 enquiries per day. We would like to have regular interaction with southern states particularly Tamil Nadu. This road show is the commencement of our journey into the southern states and a new chapter in economic relations. We would invite investments in sectors such hydro-power, tourism, IT and agriculture-related products.”
Minister Counsellor, Embassy of Nepal, Yagya Bahadur Hamal said Bilateral Investment Protection and Promotion Agreement with India were in the final phase and it would encourage further investment.
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Indian firms invited
Minister (Economic), Embassy of Nepal, Kedar Bahadur Adhikari, said that they invited Indian firms to invest in tourism sector, particularly in hotels, online services, cable car and other transportation, theme parks and hospitality management centres that would produce skilled manpower.
Chairman of CII-Yi, Chennai Chapter, R. Prasanna, said that Nepal had approved 27 Indian projects with cumulative investment of US$ 54 million in 2009-2010.
Direct employment
The Indian industry provided direct employment to 30,000 Nepalese and indirect employment to over 60,000 people.