India is a reliable partner for Nepal's development: Union Minister Piyush Goyal

Union Minister of Commerce and Industry, Piyush Goyal has said that India has always been a reliable partner for the development of Nepal.

Addressing the 3rd Nepal Investment Summit, Piyush Goyal in a video message said Nepal and India have strong relations and India has always been a trusted friend in development.

Goyal also reiterated that Nepal and India not only share a border but also a deep friendship and a vision of a prosperous future.

Addressing the inaugural session of the investment summit, Indian Ambassador to Nepal Naveen Srivastava assured to encourage Indian companies to invest in Nepal.

In his address at the inaugural session of the 3rd Nepal Investment Summit 2024 in Kathmandu on Sunday, Srivastava emphasized that promoting investment from India into Nepal will not only boost trade facilities but also create more business opportunities . He highlighted the importance of power exports by Nepal to India to enrich bilateral relations.

He reiterated India's commitment to increase investment in Nepal in the coming days. He said Nepal and India are actively cooperating in various areas including establishment of integrated check posts, cross border power transmission facilities and energy trade.

“It is a matter of great satisfaction that India is the largest cumulative investor in Nepal today, with over 33 per cent of Nepal's FDI stock currently standing at around 89 billion Nepalese rupees,” Srivastava said.