Nepal-India to strengthen cooperation in trade, security, energy
The Dollar Business Bureau India and its neighbour Nepal will further strengthen cooperation in some key areas such as investments, trade, security and energy, the Ministry of External Affairs of India said. The two countries had discussions on various issues during the Nepalese President Bidya Devi Bhandari ongoing visit to India. The Nepalese President is on a visit from April 17-21 to India and held meetings with Indian President Pranab Mukherjee, Vice President Hamid Ansari, External Affairs Minister Sushma Swaraj, Home Minister Rajnath Singh and Finance and Defence Minister Arun Jaitley. The two sides noted that India-Nepal ties derive their strength from their shared history, common ethos of culture, and long intense and close people-to-people contact supported by the open borders, MEA said in ...
India extends $340 million soft loans to Nepal
The Dollar Business Bureau Extending solidarity to its neighbour, India on Sunday committed soft loans of $340 million to Nepal for several infrastructure projects. Railways Minister Suresh Prabhu inked a letter of exchange with Nepal’s Physical Infrastructure and Planning Minister Ramesh Lekhak at the 'Nepal Infrastructure Summit 2017', committing $340 million of soft loans for Nepal’s 15 road projects. Prabhu also met Nepal's President Bidya Devi Bhandari at Rashtrapati Bhawan to discuss key bilateral and regional issues. Prabhu also held a meeting with Nepalese minister Lekhak to discuss potential areas of bilateral cooperation. The two leaders discussed the effective execution of past projects, development and expansion of railways in Nepal and expediting construction of the ongoing projects. India also reiterated its commitment towards the ...
India, Nepal agree to increase bilateral trade
The Dollar Business Bureau India and Nepal on Thursday agreed to address and resolve bottlenecks to bolster bilateral trade and boost investments between the two neighbours. Earlier this week, a two-day meeting between the two nations’ Inter -Governmental Committee on Trade, Transit and Cooperation was held in New Delhi to discuss bottlenecks and keep a check on unauthorised trade. They also discussed new issues related to infrastructure, investments, trade and transit. Commerce Secretary Rita Teaotia led the Indian delegation, while Naindra Prasad Upadhaya led the Nepalese delegation. “The committee reviewed the status of bilateral trade between the two countries…and agreed to resolve bottlenecks to bolster bilateral trade,” the Commerce Ministry said in a statement. The two sides also agreed to work out all the necessary modalities ...
WABAG gets WWTP project for Rs.141 cr in Nepal
The Dollar Business Bureau VA TECH WABAG Ltd (WABAG), a leading Indian company in water technology, on Wednesday announced that it has acquired a project for wastewater treatment plant (WWTP) in Nepal worth Rs.141 crore. The Asian Development Bank (ADB) will provide funds for the project, including its maintenance and operation costs for a 10-year period. “We have kick started the new financial year with an ADB-funded project from Nepal. Our team’s targeted geographies is now yielding good results,” WABAG India Head of Sales, S Natrajan said, in a statement. This water treatment plant is the second project for WABAG in Nepal, the first one being in Melamchi (central Nepal), which was financed by the Japan International Cooperation Agency (JICA). In addition, the project order consists of expansion and rehabilitation ...
Indias cereal exports to Nepal forecast to increase sharply in 2014-15
The Dollar Business Bureau India’s exports of cereals to Nepal are expected to increase significantly in the marketing year 2014 – 15 (July – June) due to a below-normal harvest in Nepal this year. According to the UN’s Food and Agriculture Organisation (FAO), rice production in Nepal is expected to decline by around 9% y/y to about 4.6 million tonnes. This is mainly due to below average monsoon rains this year but floods and landslides in August 2014 in Nepal has also hurt production in the country, said FAO. Wheat and maize production in Nepal are, however, expected to remain at last year’s levels of around 1.9 million tonnes and 2.3 million tonnes respectively. Nepal is a major trading ...
