India-Nepal trade can double by 2010: Assocham
Industry body Assocham today said the forthcoming maiden India-visit by Nepalese Prime Minister Prachanda will give a filip to bilateral trade, which is expected to double to three billion dollar by 2010.
By PTI |
NEW DELHI: Industry body Assocham today said the forthcoming maiden India-visit by Nepalese Prime Minister Prachanda will give a filip to bilateral trade, which is expected to double to three billion dollar by 2010.
India-Nepal trade currently stands at 1.4 billion dollar and the neighbours need to upgrade their Treaty of Trade signed in 1995 to enlarge the scope of economic co-operation. "India Inc is optimistic that with the first official visit of the Nepalese PM to India, industries from the two countries will forge closer economic ties, besides exploring possibilities for upgrading Nepal's infrastructure, water resources and agri-business," Assocham President Sajjan Jindal said.
Pushpa Kamal Dahal 'Prachanda' would begin his five-day visit to India from September 14. Nepal's hydropower provides significant opportunity for India as the Himalayan kingdom has the potential to generate an estimated 83,000 MW of electricity, which however remains untapped due to resource constraints. Nepal's current installed capacity is 591 MW.
While four hydro electric schemes have been implemented in Nepal, with financial and technical assistance from India, Jindal said more domestic companies are keen to invest in the sector.
Nepal has imported around 186 million units of energy from India and exported 138.90 million units. As per its water resources strategy 2,230 MW of hydropower would be generated by 2017, of which 400 MW would be exported to India.
Nepal exports vanaspati, jute goods, polyester, pulses, hides and skins, herbs, cardamom, rice bran oil, ginger, oil cakes and noodles to India, while it imports rice, mechanical equipment, cotton textile, cement, chemicals, electrical equipments, milk products, farm equipments and tobacco.
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