KATHMANDU, March 11: The Nepal-India Chamber of Commerce and Industry (NICCI) organized a program titled "First Prabhakar SJB Rana Memorial Lecture: Leadership, Vision, and Legacy" on March 9 to commemorate and honor the late Prabhakar SJB Rana, the founding president of the Chamber.
On the occasion of the 30th anniversary of the Chamber's establishment, this program was held to pay tribute to late Rana. The Chamber's president, Sunil KC, shared that the late Prabhakar Rana established the belief that through integrity, honesty, and dedication, one could conduct healthy business, contributing successfully to the national economy for years. This lecture was organized to honor his efforts in promoting such values in the business community.
Indian Deputy Chief of Mission, Prashant Nath Srivastava, commended the efforts of the NICCI in fostering Nepal-India bilateral trade. He expressed optimism about the further strengthening of Nepal-India relations, mentioning recent progress in the Nepal-India Bilateral Trade Secretary-level committee meetings. He also spoke about the Chamber's upcoming publication, "Business Climate Survey for Indian Companies in Nepal," which will provide valuable insights and guidance for Indian investors looking to explore investment opportunities in Nepal.
During the program, Siddhartha Shamsher JB Rana, son of the late Prabhakar Shamsher J. B. Rana, shared insights about their business ventures. He stated, "Today, our businesses, such as ITC, Tata, Indian Petroleum, and various other international partners, are in collaboration with foreign companies. However, despite strong affiliation with these businesses, we never misused our special connections or privileges from the royal family during that time to gain improper benefits."
Providing further information about the late Prabhakar Shamsher JB Rana’s background, he shared that after completing his studies, Rana worked for a while at the National Planning Commission. However, he left that position, realizing it wasn’t suited for him, and later worked at the United Nations. In the 1960s, he initiated the Solti Hotel project, bringing in a renowned brand like Oberoi into Nepal’s hotel management sector.
Siddhartha Shamsher JB Rana also explained how his father popularized the belief that to make business ventures successful, one must form partnerships and management agreements with international brands, making these agreements practical. He emphasized that late Prabhakar Shamsher JB Rana was the first entrepreneur in Nepal to establish and successfully operate partnerships with international brands, making a significant contribution to the business sector.
He expressed gratitude towards the NICCI for honoring the legacy of Prabhakar Shamsher JB Rana through this program and expressed interest in future collaborations.
The program's main speaker, Dr Krishnamurthy Venkata Subramanian, the Executive Director of the International Monetary Fund, expressed gratitude for being invited as the first speaker for the inaugural Prabhakar SJB Rana Memorial Lecture, organized by the Nepal-India Chamber of Commerce and Industry. He acknowledged that inclusive development is a challenging task but noted that India has achieved inclusive development in recent times. He emphasized that it is possible to achieve overall economic development with the right approach and the highest ethical standards. He further stated that India has been advancing economically with the highest standards of ethics.
During the program, the Nepal-India Chamber of Commerce and Industry also launched its "Business Climate Survey 2024" report.