Sincere assurances

It was an opportune time for Prime Minister Madhav Kumar Nepal, who is on a goodwill visit to India, to urge the Indian entrepreneurs to invest in Nepal. With the technical know-how and the enhanced investment capability that India possesses, it is but fitting that investment be made to the benefit of both the countries in various areas that remain untapped or underutilized in Nepal. The foremost among them is the hydropower sector. Of course, it is a promising avenue, but real progress in the sector has not been achieved due to various reasons. The tapping of the water resources for power and irrigation, besides taming the mighty snow-fed rivers of Nepal, is a daunting task, yet it must be undertaken as it will go to feed both the energy hungry countries in the long run. Therefore, PM Nepal, without mincing words, has directly urged the Indian investors to make their presence felt economically in Nepal. Moreover, he categorically said, at a meeting organised jointly by Federation of Indian Chambers of Commerce and Industries, Confederation of Indian Industries and ASSOCHAM in New Delhi on Wednesday, that the government would form a high-level committee to facilitate Indian investors in Nepal. This must be seen as a positive gesture to allay any fears that the Indian investors may have when making their investment in Nepal.

It is true that a number of investors are active in Nepal helping both by creating employment opportunities as well contributing to the national economy. There might be a few misgivings, but overall Indian investment is more than welcome because of the fact that they will form another level of mutual cooperation beneficial from the point of view of both the countries. Talks in this regard have been taking place regularly over the decades, but the influx of Indian investors in the way expected has yet to take place. And, it must be remembered that Nepal’s deficit in trade with India is quite alarming which needs correction at the earliest. For this, if direct investment from India comes forth then it can offset the level of deficit that Nepal is suffering from. And, more than anything, economic cooperation is the plank that can further cement the bonds of friendship that subsists between Nepal and India. In this, India can be helpful as it is an expanding economy and the market there is very big and promising. For luring in more India investors to Nepal, PM Nepal made an earnest appeal which shows his keen interest in seeing an economically better off Nepal with more investments flowing in to keep the Nepali economy notching up more satisfactory mileage.

Foreign investment, including Indian, is needed by Nepal because the need for rapid growth rate is now greater than ever. As usual it is the political will that matters even on this regard. It is true that there are a number of problems that the Indian investors already here are facing, but the assurances of PM Nepal to the Indian entrepreneurs are not hollow all because of the growing need for advancement that Nepal is in urgent need of. With the amiable environment that the liberal economic policy has created in Nepal, there can be no hitch for any Indian investments made here.

Helping hand

As if it was not already known, a UN report on the occasion of the First World Humanitarian Day paints a gloomy picture of Nepal. It has yet to recover from the conflict period and, as if that was not enough, the ongoing civil and political tension, along with other factors like drought and the global recession are taking theirs toll on the country which is in dire need of humanitarian assistance. The report states that those particularly affected are in the far and mid-western regions of the country who require immediate food assistance. Adding to the worries is what climate change could do. It could displace thousands and affect the pattern of migration.

The victims of natural calamities are also in need of humanitarian aid. Incidentally, the day is marked to honour all the humanitarian workers working in various parts of the globe, including Nepal. The report of the UN portrays how vulnerable the country is to calamities like earthquakes, floods and landslides and recommends that immediate action be taken to mitigate the impact of such emergencies. The advice of the UN should be well heeded and the needful done to provide the humanitarian assistance.