Modi to Nepal Inc: Infra key to development
KATHMANDU, AUG 05 -
Continuing his pitch for development, Indian Prime Minister Narendra Modi on Monday told the Nepali business community that infrastructure is key to Nepal’s economic development.
Modi’s meeting with a select group of Nepali businessmen was his last official engagement in Nepal, in which he impressed the private sector leaders with his vision and willingness to support Nepal’s economic development.
Seventeen representatives from the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Confederation of Nepalese Industries (CNI), Nepal India Chamber of Commerce and Industry (NICCI), Nepal Chamber of Commerce (NCC) and Non-Resident Nepali Association (NRNA) had around 25-minute interaction with the Indian Prime Minister, who is also known for his pro-business image.
On behalf of the Nepali private sector, FNCCI President Pradeep Jung Pandey, CNI President Emeritus Binod Chaudhary and Prabhakar Rana spoke during the interaction, in which Modi listened more and talked less. The Nepali businessmen briefed Modi about the issues related to bilateral trade between Nepal and India, stressed for using the Joint Economic Council (JEC) for bringing the two economies closer, and urged to explore the possibilities of extending trade concessions to Nepal and remove existing trade barriers.
FNCCI President Pradeep Jung Pandey told Modi his visit would herald a new beginning in terms of shared prosperity. “The focus we hope will now shift to cementing the economic ties between the two countries for employment creation and eradicating the menace of poverty,” he said.
CNI President Emeritus Binod Chaudhary said it was a very well structured team of the private sector that met Modi. “I thanked the Indian PM for his candid and open speech at the Parliament on Sunday. The visit of Indian PM has started a new phase in Nepal-India relations,” he said.
The Nepali business leaders urged Modi to offer the announced $1 billion soft loans to a mega project so that it could yield a concrete result. “We need to focus on a single project to get a concrete result,” said former FNCCI President Suraj Vaidya.
According to Chaudhary, the soft loans should be used for the construction of the KTM-Tarai Fast Track, which would ensure better connectivity with India to boost foreign trade.
Amid the absence of a mechanism that would swiftly address issues related to bilateral trade, Vaidya was of the view there should be a strong high-level body comprising private sectors and bureaucrats of the two countries that would not only monitor the JEC but also brief the Prime Ministers at least once a year.
Modi asked the Nepali private sector to take benefits from India’s development. The Indian Prime Minister, giving an example of South Korea, stressed on the need for infrastructure development, according to Founding NRNA President Upendra Mahato. “The Indian PM said there can be cooperation in power, agriculture and infrastructure, among others, and asked us to come up with concrete proposals,” said Mahato.
In line with Modi’s HIT formula, the Nepali private sector also stressed on infrastructure, information technology and transmission line, said Pashupati Murarka, senior vice president of FNCCI. “FNCCI requested him to extend support in hydropower development,” he said.
As Nepal’s export to India often facing barriers from India, the Nepali businessmen urged Modi for an easy access to the Indian market for Nepali products. “We requested him to waive off excise duty for Nepali products in Indian markets which could boost the country’s manufacturing sector,” said Hari Bhakta Sharma, senior vice president of CNI.
Source: The Kathmandu Post
