A visiting top official of Confederation of Indian Industry (CII) on
Saturday said that Nepal’s business climate is fast improving and it is
high time that Indian investors started exploring opportunities for
investments in the country.
B Mathuraman, president of CII and vice-chairman of Tata Steel Ltd, who was in Kathmandu with a six-member team, made such a remark after interacting with officials of Federation of Nepalese Chamber of Commerce and Industries (FNCCI) and CEOs of Indian ventures in Nepal.
“I am happy with what I saw and heard. I will encourage Indian investors to visit Nepal and look for avenues of investment,” Mathuraman told the press before leaving Kathmandu on Saturday.
Mathuraman tagged consistent policies and political stability as two major factors Indian investors consider while taking decisions about investment. He expressed satisfaction over recent political development in Nepal and the government’s endeavor to reframe policies such as Industrial Enterprises Act (IEA) and Foreign Direct Investment (FDI) policy.
“There exists some problems in the industrial sector, but overall situation is improving. Nepal has definitely created opportunities to attract investments,” Mathuraman stated.
Mathuraman’s team, which included CEOs of some Indian companies, met with President Ram Baran Yadav, Prime Minister Baburam Bhattarai, Industry minister Anil Kumar Jha and senior government officials. All members of the visiting delegation expressed same zeal and were positive about Nepal’s condition.
“Political situation seems a bit tough now, but this will pass away once the constitution is written,” Rajiv Kaul, former president of CII and chairman of Nicco Corporation Ltd said.
Pointing out the areas in which Indian businessmen would like to invest, Mathuraman said, “Hydroelectricity, agro-processing and infrastructure development are the areas that can lure Indian investment.” He added that CII team members accompanying him will also share their views with other Indian investors and motivate them to visit Nepal to explore areas for investment.
The delegation during its meeting with PM Bhattarai had raised concerns about labor tensions in multinational companies, particularly Indian ventures in Nepal.
“In our brief discussion with Prime Minister Bhattarai we discussed labor problem in Nepal like the one that led to the closure of Surya Nepal Garment Factory and the strike threats faced by Surya Nepal Tobacco Factory,” said a member of the team.
“The meeting concluded on a positive note. He has assured us that the government will put all basic requisites in place in order to build investors’ confidence,” said Kaul.
B Mathuraman, president of CII and vice-chairman of Tata Steel Ltd, who was in Kathmandu with a six-member team, made such a remark after interacting with officials of Federation of Nepalese Chamber of Commerce and Industries (FNCCI) and CEOs of Indian ventures in Nepal.
“I am happy with what I saw and heard. I will encourage Indian investors to visit Nepal and look for avenues of investment,” Mathuraman told the press before leaving Kathmandu on Saturday.
Mathuraman tagged consistent policies and political stability as two major factors Indian investors consider while taking decisions about investment. He expressed satisfaction over recent political development in Nepal and the government’s endeavor to reframe policies such as Industrial Enterprises Act (IEA) and Foreign Direct Investment (FDI) policy.
“There exists some problems in the industrial sector, but overall situation is improving. Nepal has definitely created opportunities to attract investments,” Mathuraman stated.
Mathuraman’s team, which included CEOs of some Indian companies, met with President Ram Baran Yadav, Prime Minister Baburam Bhattarai, Industry minister Anil Kumar Jha and senior government officials. All members of the visiting delegation expressed same zeal and were positive about Nepal’s condition.
“Political situation seems a bit tough now, but this will pass away once the constitution is written,” Rajiv Kaul, former president of CII and chairman of Nicco Corporation Ltd said.
Pointing out the areas in which Indian businessmen would like to invest, Mathuraman said, “Hydroelectricity, agro-processing and infrastructure development are the areas that can lure Indian investment.” He added that CII team members accompanying him will also share their views with other Indian investors and motivate them to visit Nepal to explore areas for investment.
The delegation during its meeting with PM Bhattarai had raised concerns about labor tensions in multinational companies, particularly Indian ventures in Nepal.
“In our brief discussion with Prime Minister Bhattarai we discussed labor problem in Nepal like the one that led to the closure of Surya Nepal Garment Factory and the strike threats faced by Surya Nepal Tobacco Factory,” said a member of the team.
“The meeting concluded on a positive note. He has assured us that the government will put all basic requisites in place in order to build investors’ confidence,” said Kaul.