India Ready to Invest in Nepal Hydropower

3 March 2017

India is committed to being Nepal’s development partner, according to Mr. Arun Jaitley, Finance Minister, India. Speaking at the Nepal Investment Summit, Mr. Jaitley pledged more Indian investment in Nepal hydropower and rail network, as well as in transmission lines, roads and bridges, irrigation, health, and education. The Summit was held on 2 March 2017 in Kathmandu, Nepal.

Foreign direct investment is a key driver for development in countries such as Nepal, Mr. Jaitley said, in a meeting with Nepal Prime Minister Pushpa Kamal Dahal. Mr. Jaitley was also scheduled to meet with Nepal President Bidya Devi Bhandari and Mr. Krishna Bahadur Mahara, Finance Minister, Nepal.

Prime Minister Dahal thanked India for support to Nepal for construction of postal roads, cross-border transmission lines, and bridges, and for the approval of an INR57 billion ($877 million) investment in the Arun III hydroelectric project.

India is considering plans to develop a railway network linking India with Bangladesh, Bhutan, Myanmar, and Nepal, India Railway Minister Suresh Prabhu said in January. Developing the network will increase employment, interaction, trade, and tourism. 

 

Related Links:

ADB Blog: 6 Ways Asian Economic Cooperation is Changing the Region

Economic transformations have accelerated regional cooperation and integration in Asia. In this ADB blog post, Mr. Cuong Minh...
Read More >>

India Drafts Cross-border Energy Trade Framework

India's Ministry of Power is preparing a set of guidelines for cross-border trade of electricity, with draft regulations...
Read More >>

India, Bangladesh to Gradually Remove NTBs

The International Business Forum of Bangladesh (IBFB) held its 12th Annual Conference on 24 May 2017. The opening...
Read More >>

ADB Awards SASEC Rail Project among Best Performing Projects in Bangladesh

The South Asia Subregional Economic Cooperation (SASEC) Railway Connectivity Akhaura-Laksam Double Track Project, implemented by Bangladesh...
Read More >>

Former FBCCI President: Bangladesh-India Relations Better Now

Mr. Abdul Matlub Ahmad, Chairman, Nitol-Niloy Group, Bangladesh, and former President, Federation of Bangladesh Chambers of Commerce and...
Read More >>

SAARC Collaboration Urged to Attract Foreign Direct Investment

The South Asian Association for Regional Cooperation (SAARC) Chamber of Commerce and Industry (CCI) and the...
Read More >>

Need to Improve Bangladesh-India Port Services

Mr. Taskeen Ahmed, President of the India-Bangladesh Chamber of Commerce and Industry (IBCCI) and his delegation...
Read More >>