28th March, 2023: Indian Chamber of Commerce (ICC) signed a Memorandum of Understanding with Confederation of Nepalese Industries (CNI) on Saturday, 25th March 2023 in Kathmandu. The MoU identifies areas of cooperation between two Chambers towards promotion of investments and trade. The MoU was signed by Vishnu Agarwal, President of CNI and Ameya Prabhu, Sr Vice President ICC in the presence of Nirvana Chaudhary, Vice President CNI.
The MoU has been signed in the backdrop of Women leadership Forum of CNI, inaugurated by Shri Pushpa Kamal Dahal Prachanda, Prime Minister of Nepal. The event was attended by Sukirti Patnaik, Chairperson of INWEC - an initiative of ICC for Women Entrepreneurs.
Commenting on the collaboration, Mehul Mohanka, President of Indian Chamber of Commerce, said, “Both Indian Chamber of Commerce and Confederation of Nepalese Indistries have identified various sectors and activities for collaboration and one important activity will be setting-up of a Task Force on Trade to support resolution of trade issues. Nepal has been an important partner for India for centuries and it’s important to keep investing in our relationship.”
He added, “Nepal is 9th largest market for India and India is the largest market for Nepal. However, there is need to explore new opportunities to enhance trade and especially investments. Few of the potential sectors include, automotive, Electric Vehicles, Electricals, Electronics, Construction etc. There is significant opportunity for Manufacturing sector investments in the areas bordering UP and Bihar.”
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