Nepal & India signs four important agreements

KATHMANDU: Nepal and India have entered into four agreements. Four accords, including the energy trade pact, were inked during the Foreign Ministerial Joint Commission meeting on Thursday in Kathmandu.

Foreign Minister NP Saud and Indian Foreign Minister S. Jaishankar inked the energy trade deal.

The two nations’ energy secretaries inked an agreement enabling India to purchase up to 10,000 megawatts of power from Nepal over a 10-year period.

An deal has been formed to assist India with the launch of Nepalese manual satellites. India will assist Nepal with the satellite launch, according to an agreement made between the Nepal Academy of Science and Technology and New Space India Limited.

Similarly, the High Impact Community Development Project (HICDP) implementation agreement has been signed by Finance Secretary Krishnahari Puskar and Indian Ambassador to Nepal Naveen Srivastava.

According to this agreement, the Indian Embassy in Kathmandu can now invest up to 200 millions in a single project.

India has agreed to provide 1000 million Nepali grant to Nepal for the reconstruction of the earthquake-affected areas of Nepal.

The foreign ministers of both countries have inaugurated three transmission lines with a power capacity of 132 KB.

Amrit Rai, spokesman for the Ministry of Foreign Affairs, stated that at the Joint Commission meeting, there was a discussion about how to develop Nepal-India ties in the future days.

He stated that connectivity, trade, water resources, and energy trade were all discussed.