India committed to investing in Nepal: Jaitley
Jaitley also held talks with President Bidhya Devi Bhandari, Prime Minister Pushpa Kamal Dahal ‘Prachanda’, his counterpart, Krishna Bahadur Mahara and others.world Updated: Mar 02, 2017 21:45 IST
Finance minister Arun Jaitley said on Thursday that India was committed to investing in Nepal’s key sectors like hydropower and irrigation, besides connecting the country to its rail network.
Jaitley was delivering a keynote speech at Nepal Investment Summit- 2017 on Thursday. He also held talks with President Bidhya Devi Bhandari, Prime Minister Pushpa Kamal Dahal ‘Prachanda’, and his counterpart, Krishna Bahadur Mahara.
In his meeting with Prachanda, Jaitley said foreign direct investment is a key driver for development in countries like Nepal. “Investment and development bring political stability,” he said.
He also said India was committed to partnering Nepal in its aspirations for growth and investment in the hydropower, irrigation, health and education sectors, as well as transmission lines, roads and bridges.
Prachanda thanked Jaitley for the support to Nepal for constructing postal roads, extension of cross border transmission lines, bridges and the recent Indian approval for Arun –III project, where the government has decided to put in ₹57 billion.
He further urged India to invest in Nepal’s hydropower, tourism and agriculture, according to a statement from the Nepal prime minister’s office.
They briefly touched upon the political development of Nepal, where Prachanda apprised about his government’s bid to implement the Constitution and steps it has been taking in the last seven months.
He also said India was committed to connecting Nepal to India’s rail network.
Jaitley’s remarks assume significance as railway minister Suresh Prabhu had said last month that India was keen to link Nepal’s capital of Kathmandu with New Delhi and Kolkata through a railway network in a bid to strengthen cross-border connectivity.