Nepal-India Chamber of Commerce and Industry demands investment-friendly environment for attracting Indian investment
The Nepal-India Chamber of Commerce and Industry has stated that investment from India in the sector of information technology is possible if the minimum capital in the sector is reduced to Rs 10 million.
During a meeting with Mr. Ram Chandra Tiwari, Director General of the Department of Industry held on 4th February 2022 at NICCI Secretariat, Naxal, Kathmandu, President of Nepal-India Chamber of Commerce and Industry Mrs. Shreejana Rana said that the role of the department was important to increase industrial investment in Nepal.
Mr. Sunil KC, Vice President of the organization, said that policy reforms are needed to attract Indian investment. He added that it was necessary to create an investment-friendly environment. Mr. KC suggested that the department sets up a foreign direct investment committee comprising representatives of the private sector.
He also stated that NICCI was also working on action plans including Nepal-India Partnership Conference, Kathmandu-Kolkata Forum and Nepal-India Entrepreneurship Promotion Center to attract Indian investment.
Mr. Saibal Ghosh, vice-president of Nepal-India Chamber of Commerce and Industry said that there are issues in Nepal regarding intellectual property, adding that Indian and foreign investment companies operating in Nepal were facing problems related to copyright and trademark registration.
He said that the Patent Design and Trademark Act 2022, Foreign Investment and Technology Transfer Act 2075 and Industrial Business Act 2076 need to be amended as per international practices. Ghosh demanded that the foreign investment companies here should be allowed to import and sell the products produced by the parent company.
Director General Tiwari said that he was trying to make things easier for the investors through one-door system and expressed his commitment to make it effective. He also said that the department would cooperate in the program being organized by the association.