New Delhi, Apr 30 (KNN) In a move to further attract foreign direct investment from India, Nepal's Finance Minister Barsha Man Pun unveiled a comprehensive handbook aimed at guiding potential Indian investors through the nation's business landscape.

The handbook, published by the Nepal India Chamber of Commerce and Industries (NICCI), provides in-depth insights into the South Asian country's rules, regulations, taxation policies, investment climate, intellectual property rights, and investment procedures.

The unveiling took place on the sidelines of the Nepal Investment Summit 2024, underscoring the Himalayan nation's keen interest in capitalising on the burgeoning economic ties between the two neighbors.

India is currently the largest source of foreign direct investment in Nepal, accounting for over 32 per cent of the country's total FDI stock, which stands at a staggering USD 520 million, as per data from Nepal Rastra Bank (NRB) until mid-2020.

With approximately 150 Indian ventures currently operating in Nepal across diverse sectors such as manufacturing, services, power, and tourism, the handbook is poised to serve as a vital resource for Indian corporations seeking to navigate Nepal's economic terrain.

The two-day summit also witnessed the signing of four bilateral agreements, including one with an Indian company, further cementing the commitment to foster cross-border economic cooperation.

Among the agreements signed were a pact between the Federation of Nepalese Chamber of Commerce (FNCCI) and the National Chamber of Commerce and Industry of Malaysia (NCCIM) to explore trade and investment opportunities, and a collaboration between Nepal's Bhuramal Lunkarandas Conglomerate (BLC) and India's Yotta Data Services Pvt Ltd for the establishment and operation of a data center in Nepal.

As Nepal continues to open its doors to foreign investment, the government's proactive efforts, such as the publication of the investor handbook, signal a concerted push to position the nation as an attractive destination for global businesses seeking to tap into the region's potential.

(KNN Bureau)