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21
Nov 2017

Nepal, India sign 8 MoUs , PM urges business communities to invest in Nepal

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Nepal, India sign 8 MoUs , PM urges business communities to invest in Nepal MEA/India

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New Delhi: Nepal and India signed eight memorandum of understanding (MoUs) .The MoUs were exchanged during a joint press meet of Nepal’s Prime Minister Sher  Bahadur  Deuba and Indian PM Narendra Modi at the Hyderabad House here today.

India has committed to help Nepal in development projects and reconstruction following the devastating April 2015 earthquake.

MoUs/Agreements signed during the State Visit of Prime Minister of Nepal to India (August 24, 2017)

1. MoU on Modalities for Utilization of India’s Housing Grant Component to support Reconstruction of 50,000 Houses   

2. MoU on Implementation of the Grant Component of India’s Post-Earthquake Reconstruction Package in the Education Sector in Nepal

3. MoU on Implementation of the Grant Component of India’s Post-Earthquake Reconstruction Package in the Cultural Heritage Sector            

4. MoU on Implementation of the Grant Component of India’s Post-Earthquake Reconstruction Package in the Health Sector in Nepal

5. MoU for Implementation Arrangement on Cost Sharing, Schedules and Safeguard Issues for Construction of Mechi Bridge under ADB's SASEC         Road Connectivity Programme

6. MoU on Drug Demand Reduction and Prevention of Illicit Trafficking in Narcotic Drugs, Psychotropic Substances and Precursor Chemical and            Related Matters              

7. Agreement on Cooperation in the Field of Standardization and Conformity Assessment           

8. MoU between the Institute of Chartered Accountants of India and Nepal  

Addressing a joint press meet , Indian Prime Minister Narendra Modi congratulated Nepal for successfully holding the two phases of local level elections and hoped that the step would accelerate prosperity and stability in Nepal.

Both the Prime Ministers  remotely launched the Katiya-Kushaha and Raxaul-Parwanipur cross-border transmission lines for supply of 50 MW each.

Earlier, PM  Deuba urged business communities of  India to work together to advance common goal of greater prosperity of both the countries.

Addressing a program of business leaders from India and Nepal at the Associated Chambers of Commerce and Industry yesterday, he urged to invest, create jobs, and nurture a new climate of innovation and entrepreneurship.

 “In recent years, India-Nepal partnership has witnessed significant growth in all areas of cooperation. The upcoming visit will provide an opportunity to both the sides for holding wide-ranging discussions on issues of mutual interest, and advancing age old, special ties of friendship between our two countries,” a statement of Ministry of External Affairs states.

Deuba is on a state visit to India from 23-27 August  at the invitation of Prime Minister of India, Shri Narendra Modi.This is his first visit abroad after assuming the office of Prime Minister of Nepal in June 2017.

Aug. 24 2017 

Last modified on Thursday, 31 August 2017 11:20

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