Birgunj [Nepal], August 28 (ANI): To accelerate the bilateral economic cooperation for shared prosperity, PHDCCI, in association with the Consulate General of India, Birgunj (Nepal) and other bodies, organised 'India-Nepal Economic Partnership Summit 2025' in Birgunj, Nepal.

The event was also co-organised by the Nepal-India Chamber of Commerce and Industry (NICCI) Birgunj Chapter and the NADA Automobile Association of Nepal, Madhesh Pradesh, and the PHDCCI India-Nepal Centre.

The Summit witnessed the significant presence of industry leaders from both India and Nepal, office bearers of NICCI, BiCCI, FNCCI, NADA, Chambers in neighbouring Indian state Bihar (India) etc. Consul General of India, Birgunj (Nepal) and Vice Chairman, Madhesh Province Policy and Planning Commission, Government of Madhesh Province, Nepal, were among the key speakers.

Speaking on the occasion, the 'Chief Guest and Keynote Speaker', Devi Sahai Meena, Consul General of India, Birgunj (Nepal) presented a brief overview of India-Nepal bilateral economic and trade relations.

'In order to facilitate the relation of economic and business in between India and Nepal is diversified. This relation along with the geographical similarity has the social, religious and cultural heritages. Both the countries have open border, there is a strong relation in between the people of both the nations, this uniqueness further boosts and strengthens the business and economic relation,' Devi Sahai Meena, Consul General of India in Birgunj, Nepal said.

He also emphasised that India has made remarkable progress in various sectors of the economy, and Nepali businesses can benefit by partnering with Indian businesses.

Meena further added, 'To further enhance the bilateral economic cooperation and strengthening the base of Nepalese businesses in India (with focus on the India's bordering states with Nepal), the 'India-Nepal Economic Partnership Summit 2025' is an important initiative that shall help in further improving the 'Ease of Doing Business' between two friendly countries- India and Nepal. India and Nepal share strong economic ties--and we will further help enhancing its base with improved connectivity and trade transit facilities.'

Sohan Prasad Sha, Vice Chairman, Madhesh Province Policy and Planning Commission, Government of Madhesh Province, Nepal, said 'India's serious consideration on Nepal's investment aspiration is must for the real economic turnaround of Nepalese economy. The Madhesh Pradesh government is doing all possible to improve the economic gains in key sectors like tourism, food processing, and renewable energy. Madhesh Province Policy and Planning Commission, Government of Madhesh Province, Nepal, is keeping a data-centric policymaking approach for informed decisions for the economic development of Madhesh Pradesh besides to improve the cross-border trade with India.'

Abhishek Choudhary, President, NICCI Birgunj Chapter, 'India and Nepal share more than just geography, we share history, culture and aspirations for a better future. Our economies are deeply interlinked, and when one grows, the other also benefits. Today, we must look beyond trade balances and focus on creating win-win opportunities--whether it be in manufacturing, agriculture, tourism, energy, or digital trade.'

'Substantial progress has been achieved in recent years in key areas of India-Nepal bilateral cooperation, especially in the areas of connectivity--physical, digital, energy and people-to-people linkages This is manifested in the steady implementation of infrastructure projects related to roads, bridges, cross-border railways, Integrated Check Posts and petroleum pipelines,' Atul K Thakur, Secretary, India-Nepal Centre, PHDCCI said in his opening remarks.

Among other key speakers were: Ashok Temani, President (Madhesh Pradesh), FNCCI; Hari Gautam, President, Birgunj Chamber of Commerce and Industries; Anil Kumar Agrawal, Immediate Past President, Birgunj Chamber of Commerce and Industries; Suman Shrestha, President, Chamber of Commerce and Industry-Chitwan; Kedar Kumar Agrawal, President, NADA Automobile Association of Nepal, Madhesh Pradesh; Rahul Agarwal, President Elect, NADA Automobile Association of Nepal-Madhesh Pradesh; Angad Singh, President, Motihari Chamber of Commerce (Bihar, India); Ranjeet Karn, Member of the Constituent Assembly (2013-17), Nepal; Architect and Urban Planner and Project Consultant; Bishwash Pratap Shah, President, NYEF (FNCCI) - Birgunj Chapter; Deepak Rauniar, Founder CEO, Oorja World; Mahesh Kumar Agrawal, Prominent Entrepreneur (Raxaul, Bihar, India); Narayan Prasad Homagai, Prominent Entrepreneur (Kolkata, India); Madhav Duwadi, Managing Director, Hotel Seven Star, Sauraha (Nepal); Manish Anand, CEO, Mithila Naturals Pvt Ltd (Madhubani, Bihar, India); Shiv Shankar Shah, Head-International Relations, Krupanidhi Group of Institutions and International Education Consultant; Krishna Kumar, Director, Parwati Buildtech Pvt Ltd (Patna, Bihar, India); Diwakar Kumar, Director, Vaisanavi Construction (Patna, Bihar, India); Niraj Agrawal, Vice President, NICCI Birgunj Chapter and Joint Treasurer, Birgunj Chamber of Commerce and Industries; Bhumi Raj Dhungana, Commercial Head, Berger Jenson and Nicholson (Nepal) Pvt Ltd; Rajendra Koirala, CEO, Gyanda Academy; Mohan Sharma, President, Jeetpur Simra Chamber of Commerce (Nepal).

Indian firms are among the largest investors in Nepal, accounting for 35% of the total FDI stock in Nepal, worth nearly USD 777 million. Nepal is India's 17th largest export destination, up from 28th position in 2014.

India comprises about 64.1% of the total trade of Nepal, equating to $7.87 billion USD (Indian FY 23-24). This includes $7.041 billion USD of exports from India to Nepal and $829.71 million USD of exports from Nepal to India.

India is Nepal's largest export destination, receiving an overwhelming 67.9% of its total exports (as per annual data available from Nepal Rastra Bank (mid-August 2023-mid July, 2024). Nepal's other large export destinations are the United States, Germany, Turkey, France, the UK, Australia, Italy, Japan and Canada.

Nepal's exports mainly constitute edible oil, coffee, tea and jute. Nepal's main imports from India are petroleum products, Iron and Steel, Cereal, Vehicles and Parts, and Machinery. There are about 150 Indian ventures operating in Nepal engaged in manufacturing, services (banking, insurance, dry port, education and telecom), power sector and tourism industries. India-Nepal partnership will be further strengthened in all crucial areas, including economy, culture and at the people-to-people level. (ANI)