KATHMANDU: Indian Finance Minister Arun Jaitley has said that Nepal is a lucrative destination for investment given its immense economic possibilities.

Addressing the two-day Nepal Investment Summit organised by the Ministry of Industry and Investment Board of Nepal in the Capital today, the Indian Finance Minister said that India wished to see an economically strong Nepal.

Saying that Nepal could be developed through proper utilisation of natural resources, Jaitley added there were investment opportunities in Nepal's energy, agriculture, tourism and irrigation sectors.

He also said there were chances of investment in culture and religious tourism as well.

"The investors of Nepal and India can move ahead through coordination for the investments in educational, medicine and engineering sectors," he added.

Jaitley also stressed the need for policy reforms for the investment as well as infrastructure development adding that the State should adopt a durable tax policy for expanding investments.

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Meanwhile, the visiting Indian Minister called on President Bidya Devi Bhandari and Prime Minister Pushpa Kamal Dahal separately today.

Hon’ble Minister of Finance Sri @arunjaitley calls on Rt. Hon'ble President of Nepal Smt Bidya Devi Bhandari at Sheetal Nivas pic.twitter.com/lOBNWuhIRw

— IndiaInNepal (@IndiaInNepal) March 2, 2017

Hon’ble Minister of Finance Sri @arunjaitley calls on Rt. Hon'ble Prime Minister of Nepal Sri Puspa Kamal Dahal 'Prachanda' pic.twitter.com/VhHRiVw4ov

— IndiaInNepal (@IndiaInNepal) March 2, 2017

(Updated)

India's Finance Minister Arun Jaitley in Kathmandu

KATHMANDU: India's Finance Minister Arun Jaitley arrived here this afternoon in connection with a two-day official visit at the invitation of Deputy Prime Minister and Minister for Finance Krishna Bahadur Mahara.

Finance Secretary Shanta Raj Subedi, Nepal's Ambassador for India Deep Kumar Upadhyay, a representative from the Indian Embassy here and senior officials from the Ministry of Foreign Affairs were at the Tribhuvan International Airport (TIA)'s VIP lounge to receive Minister Jaitley.

He will attend the Nepal Investment Summit ongoing here since this morning as a keynote speaker. He is scheduled to pay a courtesy call on President Bidya Devi Bhandari this evening itself.

Jaitley will call on Prime Minister Pushpa Kamal Dahal and hold a separate meeting with his counterpart Mahara as well.