Confederation of Indian Industry organized the session "Doing Business with Nepal" today in Kolkata.

Mr. Alapan Bandopadhyay, IAS, Principal Secretary with Addl. Charge, Department of Commerce & Industry, Government of W.B. focused on Nepal's high potential as a tourist destination. He considers Nepal as a beautiful and elegantly sublime country with rich cultural heritage which is yet to turn into sought after holiday destination. Tourism industry is a great job creator and its significance in bilateral trade relation can hardly be exaggerated. "I firmly believe that if the South Asian countries can unite and join hands forgetting all differences, it can emerge as a strong cultural and economic entity and act as a united force." 

Mr. K.N. Adhikari, Charge' de' Affaires',  Acting Ambassador of Nepal in India, Embassy of Nepal in New Delhi, presented a complete overview of the current socio-economic scenario of Nepal and highlighted on the future investment climate in Nepal. Nepal accounted for a total GDP growth of 3.5% amounting to Rs 845million in the previous year. The total trade figure between India and Nepal in 2011 accounts to Rs. 309billion. India includes 67.3% of Nepal's exports and 63.3% of its imports and 44% of approved FDI in Nepal. Mr. Adhikari said "Though political turbulence, poor infrastructure, energy deficiency have affected Nepal's economic growth, but there is immense potential which remains unexplored and India can largely benefit from bilateral trade with Nepal." Nepal has adopted several preferential trading arrangements such as business friendly policy framework, special tax redemption schemes to augment trade relation between the two countries. Nepal with a population of 28million people in itself is a sizable market. Mr. Adhikari added "I hope that the trade relation between India and Nepal that is governed by the treaty of Trade would be strengthened in days to come."

Mr. Chandra Kumar Ghimire, Consul General of Nepal, Consulate General of Nepal in Kolkata, in his special address pointed out the favourable trading situations on which the Indian investors can bank upon. He shared "India and Nepal have a very special socio-cultural and socio economic relation. The no language barrier and facility of free movement of goods, services and people within the country and its close geographical proximity, availability of cheap and quality labour, surplus of goods and services can be pivotal for trade facilitation between the two countries." According to him the signing of Double Taxation Avoidance (DTTA) between India and Nepal can be the most vital factor for strengthening of bilateral trade. 2013 is looked upon as Nepal Investment Year.

Representatives from FNCCI, Mr. R.K. Agrawal, Chairman, CII Eastern Region, Mr. Rajive Kaul, Past President, CII also addressed the gathering.