Abdullah calls for Indo-Nepalese tie-up in hydropower sector

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    india investrade 2013Both India and Nepal will be in a “win-win situation” if they cooperate to develop Nepal’s “God-gifted” hydropower potential, Minister for New and Renewable Energy Farooq Abdullah said here today.

    “Without energy we cannot bring economic prosperity and both India and Nepal can benefit if we work together in developing Nepal’s vast hydropower potential, which is God-gifted,” said Abdullah.

    “We should cooperate in such a manner that both the countries will be in a win-win situation,” Abdullah said while inaugurating a three-day trade expo aimed at attracting Indian investments in Nepal’s energy, tourism, agriculture and IT sectors.

    Abdullah and Nepalese Finance Minister Shanker Prasad Koirala inaugurated “India Investrade 2013” at Bhrikutimandap Exhibition Hall in the capital.

    Koirala called for increased investments in Nepal’s energy, tourism, agriculture and IT sector and assured that the government of Nepal is trying to make the investment climate more secure in a country hit by political crisis.

    “The government of Nepal is committed for regulatory and policy reforms in order to attract more foreign investment in the country,” he said.

    “There is deep political commitment among the political leaders of Nepal for promulgating the new constitution within one year,” Indian Ambassador Ranjit Rae said.

    “India is ready to support, in all possible ways, peace, security and economic prosperity of Nepal,” he said.

    Around 40 Indian companies from electrical and energy sector are showcasing their products. Latest electrical transformers, generators, solar lighting system are on display in the exhibition.

    Source : PTI