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MSME sector an emerging salient factor in India-Nepal relations

Updated: Jun 02, 2023 02:35:28pm

MSME sector an emerging salient factor in India-Nepal relations

New Delhi, June 2 (KNN) Umesh Prasad Singh Chairman of Federation of Nepal Cottage & Small Industries (FNCSI) on Friday met Anil Bhardwaj, Secretary General of Federation of Indian Micro and Small & Medium Enterprises (FISME) on the sidelines of Nepal’s Prime Minister Pushpa Kamal Dahal ‘Prachanda’ four-day visit to India.

He stressed on the enhancement of relations between the two neighbouring countries in different areas concerning trade and business.


Speaking exclusively with KNN India, Singh said that Union Minister of Commerce and Industry Piyush Goyal has promoted the strengthening of business between the MSME sectors of both the countries.

Union Minister Piyush Goyal has assured that the Indian government will look into schemes and policies to promote MSME trade between India and Nepal, Singh told KNN India.

Further both the countries are ready to address and iron out issues concerning export-import.

Reflecting on trade barriers, Singh said, “80% of the goods are coming to Nepal and only 20% is coming to India, hence cooperation in this area will benefit India more which has interested the Indian government in further talks.”

Nepal government is also focusing on attracting investments for which it has made feasible FDI norms and has announced relaxation in taxation.

Prime Minister Narendra Modi and his Nepal counterpart Pushpa Kamal Dahal ‘Prachanda’ on Thursday signed 7 agreements with core development in connectivity and co-operation in power and tourism sectors.

PM Modi in his address to the media after his bilateral meeting with Nepal’s PM, said, “We have established new rail links to increase physical connectivity. Long term power trade agreement has been established between India and Nepal today. This will give strength to the power sector of our countries.”

Marking his fourth visit to India, Prachanda on his part said, “This is my fourth visit to India. The relationship between India and Nepal is age-old. Today we discussed over steps to strengthen the ties between both nations. We also jointly launched many ground-breaking projects.”

India and Nepal also launched India-Nepal Joint Business Forum and the first meeting was held in New Delhi.

It has decided to collectively develop a roadmap for increased business cooperation and building symbiotic relationships and partnerships between the two countries.

The Confederation of Indian Industry (CII) and Federation of Nepalese Chamber of Commerce and Industry as the Forum’s official Secretariat from India and Nepal respectively.  (KNN Bureau)


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