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A delegation from the Nepal-India Chamber of Commerce and Industry (NICCI) met with Minister for Industry, Commerce and Supplies, Ramesh Rizal, at the ministry on Thursday to deliberate on the pressing issues related to contract manufacturing and the current restrictive amendments under the Foreign Investment and Technology Transfer Act (FITTA) 2019 and Industrial Enterprise Act 2020. ....
Prime Minister Pushpa Kamal Dahal Prachanda has made some historic progress in signing several agreements establishing firm political level relations in New Delhi. As expected, opposition parties led by the Communist Party of Nepal UML are expressing doubt about spreading the unclear message on their home turf. The signing of a new transit treaty and the long-term power trade agreement, which allows for the export of up to 40 MW of electricity to Bangladesh, were the two biggest agreements reached during the visit. Given their similar cultures and civilizations, the leadership of Nepal and India has shown that there are areas where agreement can be reached that will benefit the people of both countries. The kindness and friendliness of Indian Prime Minister Narendra Modi have contributed to his visit's "astounding success," according to PM Prachanda. ....