Kathmandu (Xinhua): India contributes to 44 per cent of total foreign direct investment (FDI) in Nepal, said India's deputy ambassador to Nepal Alok Sinha, The Himalayan Times reported on Sunday.
Highlighting trade and economic relationships between the two countries, Mr. Sinha said during an interaction at the "Excellence Achievers Award 2009" program organized here Saturday at Nepal Tourism Board that there are 240 projects worth 13 billion Nepali rupees (some 162.5 million U.S. dollars) going on in hydropower, road construction, education and several other sectors. "Both countries share economic transparency in terms of trade," he added.
In the field of communication as well, there is a joint venture -- United Telecom Ltd (UTL). Similarly, Dabur Nepal, State Bank of India, Punjab National Bank are some of the other examples of India's joint ventures with Nepal.
Mr. Sinha added that India has always contributed to uplifting the economy of Nepal as well as cooperating in the peace process and in providing aid.
Source:The Hindu