Nepal’s Industry Minister Bhandari Meets India’s Piyush Goyal To Attract Indian Investment
Nepal’s Minister for Industry, Commerce, and Supplies, Damodar Bhandari, met India’s Minister for Commerce and Industry, Piyush Goyal, in New Delhi on Monday to discuss matters of bilateral trade and investment.
During the meeting, Minister Bhandari urged Goyal to address the challenges posed by the Bureau of Indian Standards (BIS) requirements imposed on Nepali exports such as cement, plywood, and shoes.
The two ministers also held positive discussions on amending the Treaty of Transit to facilitate smoother trade operations. It was agreed to organize a Commerce Secretary-level meeting in Nepal soon to further advance cooperation in trade and transit.
Highlighting Nepal’s immense investment potential, Bhandari emphasized the country’s investor-friendly environment and urged Goyal to encourage Indian investors to explore opportunities in Nepal.
Minister Bhandari also met India’s Minister for Petroleum and Natural Gas, Hardeep Singh Puri, to review progress on energy cooperation since their last meeting in August 2024. Discussions focused on ongoing and new infrastructure projects, including the signing of a B2B agreement between Indian Oil Corporation (IOC) and Nepal Oil Corporation (NOC).
The talks underscored strengthening energy ties between the two nations, with a focus on ensuring uninterrupted supply of petroleum, oil, and lubricants to Nepal. Both parties agreed to expedite the construction of the Siliguri-Jhapa and Amlekhgunj-Chitwan pipelines, along with associated terminals, to enhance cross-border energy connectivity.
Minister Puri invited Nepal to join the Global Biofuels Alliance to unlock its biofuels potential, signaling further avenues for cooperation in sustainable energy.
