India is committed to deepening ties with Nepal: Envoy

KATHMANDU: India today underlined its commitment to Nepal's economic development and will take into account each other's concern, sensitivity and interests.

Indian Ambassador to Nepal Jayant Prasad said India has long been a partner of Nepal and is committed to deepening and diversifying its development partnership.

"We hope to do so with respect to each other's concern, each others sensitivity and each others' interest," he said.

"Nepal is in the process of integrating the Maoist combatants into the security forces and writing a new constitution which is a challenging task", he noted while addressing a symposium on the theme 'Potential Areas of Nepal-India Cooperation' organised by Nepal-India Friendship Society here today.

"India's larger market provides greater opportunity for the entire South Asia region and Nepal can also benefit from that," he pointed out adding India's relations with Nepal are multi-faceted and multidimensional which is marked by geographical proximity, closeness and connectivity.

Indian investors are playing a key role in Nepal's economic development as they are creating 30,000 direct jobs and more than double of that in the form of indirect employment, he said.

If the hydropower projects currently being developed by Indian companies in Nepal can get license to construct these project, it can bring over $ 15 billion foreign direct investment in a short period of 4-5 years period which can transform Nepal economically, he pointed out.