Press Information Bureau

Government of India

Ministry of Commerce & Industry

21-May-2012 15:18 IST

Nepal Assures Fast Tracking of HYDRO Projects

The Industry Minister of Nepal met Minister of Commerce and Industry in New Delhi in January, 2012.

Issues relating to bilateral trade and investment were discussed during the meeting.

Government of Nepal assured fast-tracking of clearances for Hydro power projects being implemented by Indian entities in Nepal.

. India and Nepal have signed the Bilateral Investment Protection and Promotion Agreement. This is expected to boost the confidence of investors. Increase in bilateral investment is also expected to further promote bilateral trade.

This information was given by the Minister of State for Commerce and Industry, Shri Jyotiraditya M. Scindia in a written reply in the Lok Sabha today.

DS/GK

Bilateral investment protection assurances support expedited clearances for cross-border hydro projects, strengthening investor confidence and trade. Nepal committed to expedite statutory and administrative clearances for hydroelectric projects by Indian entities, conveying intergovernmental assurances to accelerate permitting and approval processes. The statement cites the Bilateral Investment Protection and Promotion Agreement as reinforcing investor confidence and as instrumental in encouraging increased bilateral investment and trade.