Finance Minister Dr. Mahat Calls on Industrialists from Gujarat to Invest in Nepal

Finance Minister Dr. Prakasharan Mahat, currently attending the G20 conference in India, has urged industrialists from the Indian state of Gujarat to consider investing in Nepal. Speaking at a program organized by the Gujarat Chamber of Commerce, Dr. Mahat highlighted Nepal’s investment potential and attractive returns.

During his address, Dr. Mahat emphasized the agreement between Nepal and India to export 10,000 megawatts of hydroelectric power. He expressed confidence that this initiative would boost hydropower production in Nepal and create opportunities for industries with high electricity consumption.

The finance minister underscored Nepal’s competitive advantage, stating that hydroelectric power is available at a reasonable cost year-round. Additionally, he emphasized the ease of investment, as products manufactured in Nepal enjoy convenient access to the Indian market.

Dr. Mahat also highlighted the diverse investment opportunities in Nepal, including agriculture, information technology, and tourism. He assured potential investors that Nepal’s agricultural and tourism sectors hold immense potential for growth, with no policy obstacles hindering returns on investments.

The finance minister further noted the rapid development of information technology in Nepal. He highlighted the abundance of skilled manpower, making Nepal an attractive destination for investors. Dr. Mahat pointed out that utilizing Nepali labor at a comparatively lower cost than in India could enhance competitiveness and profitability for businesses.

Sandeep Engineer, Senior Vice President of the Gujarat Chamber of Commerce and Industry, expressed the willingness of Gujarat’s industrialists to expand their investments and establish business ventures in Nepal. Engineer also requested procedural facilitation to ensure a smooth investment process.

The Ministry of Finance and the Nepali Embassy in Delhi presented investment opportunities to the attendees, further highlighting the favorable investment climate in Nepal.

Dr. Mahat’s call to the industrialists of Gujarat to invest in Nepal demonstrates the country’s commitment to attracting foreign investment and fostering economic growth through strategic partnerships.