'India-Nepal trade might reach USD10 billion by 2017' | SupportBiz

In Brief

'India-Nepal trade might reach USD10 billion by 2017'

Bilateral trade between India and Nepal could touch USD10 billion over the next five years, its envoy to India said. "Our trade with India has shown good growth. Nepal has great investment potential in sectors such as hydropower, tourism and exotic agricultural products" acting ambassador KN Adhikari said at a seminar organised by Confederation of Indian Industry in Kolkata.

The bilateral trade stood at around USD3 billion in the fiscal 2011-12 that ended on March 31.

Adhikari said that Nepal was readying the outline for 50 viable projects for investments, and it has formed a special board to attract foreign investments in the country.

The country will observe 2012-13 as Nepal Investment Year.

Currently, India contributes nearly 44 percent to Nepal's total approved foreign investments.

Adhikari also added that the trade between two countries would also get a boost with the political stability in Nepal.