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CII offers to push Nepal's economic development

Delhi,Business/Economy,Diplomacy, Fri, 06 Apr 2012 IANS

New Delhi, April 6 (IANS) Leading business lobby Confederation of Indian Industry (CII) has offered all help for Nepal's economic development.


The offer was conveyed by CII president B. Muthuraman, who led a CEOs mission to Nepal April 5-7 for the 46th Annual General Meeting (AGM) with the Federation of Nepalese Chambers of Commerce and Industry (FNCCI).


Muthuraman, was the guest of honour and key note speaker at the AGM, at which Nepalese Prime Minster Baburam Bhattarai was the chief guest.


The CII delegation also called on Nepalese President Ram Baran Yadav, Prime Minister Bhattarai and Industry Minister Anil Kumar Jha, according to a CII press release.


During their meetings, Muthuraman reiterated CII's commitment to participate in Nepal's development process.


Bhattarai was told that CII would be happy to market in India the 50 projects that have been identified for investments.


On the trade imbalance between the two countries, Muthuraman said that all efforts needed to be made to put hydro projects on stream.


Nepal is the second richest country in the world in terms of hydro power resources. There is also great interest amongst several Indian companies to participate in Nepal's hydro power development process.


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