Nepali businessmen and Indian investors met in Kolkata on Thursday in an attempt to encourage Indian investment in Nepal, which is observing 2012/13 as Investment Year.[break]
Rajiv Kaul, former president of the Confederation of Indian Industries (CII), and RK Agrawal, eastern sector president of CII, had shed light on investment opportunities in Nepal during the one-day conference jointly organized by CII, Nepali embassy in New Delhi and Nepali Consul General´s Office in Kolkata.
Sajeev Puri, divisional chief executive of Indian Tobacco Company (ITC) -- the parent company of Surya Nepal -- also hailed Nepal as one of the most attractive investment destinations.
According to Chandra Ghimire, Nepali consul general to Kolkata, said leading businessmen in India have shown interest in increasing investment in Nepal, specially in the areas of hydropower, solar energy and cement production.
Speaking on the occasion, Ghimire highlighted the prospects of investment and the government´s efforts toward luring more Foreign Direct Investment (FDI) in Nepal from India. Khaganath Adhikari, acting ambassador of Nepal to India, urged the Indian business community to seize the opportunity to invest in Nepal.
Mukunda Paudel, joint secretary at the Investment Board, had made a presentation on efforts taken by the government to make Nepal more investment-friendly.
India, which is the largest investor with more than 45 percent of total FDI in Nepal, has joint-venture investments mainly in the banking, manufacturing, tourism, hydropower and agriculture, among other sectors.
Nepal had signed Double Taxation Avoidance Agreement (DTAA) and Bilateral Investment Promotion and Protection Agreement (BIPPA) with the southern neighbor last year to create favorable environment for promoting trade and investment between the two countries.
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