Nepal to hold road show in India to lure investment

KATHMANDU, Jan 28: 

The Joint Economic Council (JEC), formed by apex bodies of the private sector of Nepal and India, has decided to organize road shows in different Indian cities to attract investments during the Nepal Investment Year 2012/13. 

The road show would market the 50 projects identified by Nepal, says a press statement issued by the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) on Friday. 

The proposal was finalized by a meeting of the JEC held in Kolkata on Jan 25.

The JEC, constituted by the FNCCI and the Confederation of Indian Industry (CII), has also agreed to host “CEO´s mission to Nepal”, under which a delegation of Indian CEOs will visit Nepal in April to commemorate Industry and Commerce Day. 

“A request has also been made to the Indian government to organize ´A Made in India Show´ in Kathmandu in Sept/Oct this year,” the statement says.

During the JEC meeting in India, Nepali delegation also met with ML Meena, chairman of Kolkata Port Trust; Deepa Dasgupta, chief commissioner of Customs, Kolkata; and Gurdeep Singh, commissioner of customs. 

“The Indian customs officials have agreed to facilitate early clearance of Nepali cargo at the Kolkata port by streamlining the procedures and removing the unnecessary processes,” the release adds.

During the meeting, the Nepali delegation also urged Indian entrepreneurs to exploit Nepal´s water resources. 

Padma Jyoti, co-chairman of the JEC on behalf of the FNCCI, said: “I appeal to the Indian government to consider making available an additional 100 MW of power so that the country can partially overcome 15 hours of daily power cuts during the winter months.”

The JEC will hold its next meeting in Kathmandu in April.

Source: Republica