In a major step to boost bilateral trade and investment, India and Nepal concluded a successful meeting of the intergovernmental committee (IGC) on trade, transit, and cooperation to combat unauthorised trade in Kathmandu.
The Indian delegation, led by the secretary of the Department of Commerce, Government of India, Shri Sunil Barthwal, held extensive discussions with the Nepalese delegation, headed by the secretary of the Ministry of Industry, Commerce, and Supplies, Government of Nepal, Mr. Gobinda Bahadur Karkee.
The meeting resulted in India agreeing to supply 200,000 MT of wheat to Nepal, addressing the country’s food security concerns. The Indian side also agreed to facilitate smoother cargo transit for Nepali vehicles by applying prevailing regulations, a move expected to boost bilateral trade.
Both countries also agreed to form a joint working group to discuss the acceptance of online certificates of origin (CoO) with Nepal and SAFTA. The move is expected to simplify trade procedures and reduce costs for businesses.
The India-Nepal joint business forum, held on the sidelines of the IGC meeting, brought together business leaders from several countries to discuss ways to enhance trade and investment ties.
The meeting is seen as a significant step towards strengthening trade ties with Nepal, with India being Nepal’s largest trade and investment partner.
