India Nepal commerce ties: Nepal, India categorical dedication to implementing bilateral initiatives for strengthening cross-border connectivity

Either side additionally mentioned mutual market entry for prescription drugs and Ayurvedic merchandise. The Indian facet highlighted the necessity for an IPR regime by the provisions of the Paris Conference for encouraging International direct funding (FDI).

Vipul Bansal, Joint Secretary, Ministry of Commerce, Authorities of India, led the Indian delegation, which included senior officers from numerous ministries and the Embassy of India in Kathmandu.

The Nepali facet was headed by Ram Chandra Tiwari, Joint Secretary, Ministry of Business, Commerce and Provides, Authorities of Nepal, accompanied by key representatives from completely different Nepali Ministries and Departments.

One of many highlights of this assembly was the deal with bilateral initiatives aimed toward additional strengthening the seamless cross-border connectivity between India and Nepal together with via the development of recent Built-in Verify Posts and railway hyperlinks.

Either side expressed a dedication to implementing these initiatives, reflecting the shared imaginative and prescient of affluent bilateral commerce. The agenda additionally lined discussions on the evaluation of the Treaty of Transit and the Treaty of Commerce, proposed amendments to current agreements, methods for enhancing funding, the harmonisation of requirements and the synchronised improvement of commerce infrastructure. India continues to be the principal commerce and funding accomplice for Nepal, considerably contributing to Nepali imports and exports.

The discussions on this assembly are anticipated to additional fortify the financial and industrial linkages between the 2 nations.

The IGSC is a bilateral mechanism aimed toward bolstering commerce and funding ties.