Kathmandu. Kathmandu: The new Deputy Chief of Mission (DCM) of the Embassy of India in Kathmandu, Dr Rakesh Pandey, has suggested increasing formal and informal connectivity and engagement between India and Nepal for economic progress.

Interacting at a roundtable organized by Nepal-India Chamber of Commerce and Industry (NIKCI) in Kathmandu, Dr Pandey also suggested holding regional, monthly meetings as much as possible to make the investment environment easier.

Dr Pandey also urged Nikkei to enhance cooperation with private sector organizations in India and start studying the capabilities and needs of both countries.

He also said that it is necessary to study the complementarities between the two countries and present them to the leadership of both the countries. Stating that expanding both physical and digital connectivity would also help create a conducive environment for investment, he suggested cooperation in new areas besides the traditional sector. Suman Shekhar, First Secretary (Commerce) at the Indian Embassy, also spoke on bilateral relations.

Similarly, NIKKI President Sunil KC talked about Indian investment in Nepal of Dr Pandey and said that Nepal could benefit from India’s economic development. India is growing economically at a rapid pace and Nepal can benefit from the development of its neighbours,” he said.

On the occasion, Nikki’s Vice President Ravi Raivaram said that India’s share of the total foreign direct investment in Nepal is about 35 percent.

In the meeting, nikki members discussed the trade and transit problem, intellectual property rights problems, and the recent decline in foreign direct investment of the Indian private sector. Although government-to-government investment in the hydropower sector continues, various issues related to Nepal-India trade and economic relations were discussed, including the decline in Indian private sector investment in recent years.