Embassy of Nepal in New Delhi along with Uma Ventures based in Silicon Valley, USA organized a conference inviting the Indian investment and business community to learn about investment and business opportunities in Nepal. The conference was held on January 21 at the Embassy premises at Barakhamba Road, New Delhi. The organizers had invited the Indian businesses doing business in Nepal or interested in doing business in Nepal to attend.
Ambassador of Nepal to India His Excellency Mr. Deep Kumar Upadhyay delivered the opening remarks. He thanked Uma Ventures Senior Partner Ash Shrivastav for helping in organizing the conference and presenting his views about Nepal market. Other speakers included Ish Garg, Chief Operating Officer of Calderys, Anirudh Suri, Managing Director of India Internet Fund and many other professionals and business persons who are doing business in Nepal or have analyzed Nepal investments. Regulatory environment was also discussed in detail.
“Nepal is strategically located between India and Nepal. Nepal shares an open border with India. There are many treaties that Nepal and India have jointly signed to facilitate cross-border business.”, said Ambassador Upadhyay. There are thousands of international businesses operating out of Nepal. India represents the largest portion of foreign investment in Nepal. Similar statement was echoed by Deputy Chief of Mission Mr. Krishna Prasad Dhakal.
Mr. Dhakal continued by saying that the signing of the India-Nepal Treaty of Peace and Friendship in 1950 established the framework for the unique ties between India and Nepal. India is Nepal’s important trade partner. India is also a major source country of Nepal’s foreign direct investment. Due to geographical proximity, socio-cultural linkages and increased interactions between the two peoples, trade, commerce and economic cooperation have been expanding along with the growth in other aspects of bilateral relationship.
Recently appointed Ambassador to India His Excellency Mr. Deep Kumar Upadhyaya said that at this conference, the attendees were be able explore the potential Nepal business opportunities, get familiar with the treaties and meet people who are either doing business in Nepal or considering entering in Nepal market. Mr. Upadhyay has previously served as Nepal’s ambassador to India. Ash Shrivastav of Uma Ventures said that there are many investment funds investing in the emerging markets but it’s extremely rare that a Fund has considered Nepal. Although Nepal is located between world’s two largest economies, Nepal has been overlooked.
Several private equity, venture capital, asset management and Indian companies attended the conference. Guests mostly comprised of Indian and international business leaders who do business in Nepal. The conference aimed to connect experienced business leaders who have been operating business in Nepal and have extensive knowledge of Nepal market, opportunities and the challenges with the guest companies.
Mr. Shrivastav had urged the speakers at the conference to speak “the good, the bad and the ugly” realities of doing business in Nepal. Honest dialogues with the business leaders helps the regulators to understand their issues and make necessary adjustments in the system, Mr. Shrivastav system, “This conference was very beneficial for the Embassy as well as the guests. It brought foreign perspectives”, said the Deputy Chief of Mission.
A similar conference is being organized in Kathmandu on February 11, 2017 where international business leaders and investment funds are expected to attend.