NICCI discusses trade issues with designated ambassador to India

KATHMANDU: Nepal-India Chamber of Commerce and Industry (NICCI) organised a round-table discussion and interaction with Shankar Prasad Sharma, designated Ambassador of Nepal to India, on Friday.

During the event, participants briefed the ambassador on various issues faced by Nepal's private sector in trade with India.

NICCI President Sunil KC welcomed Sharma on behalf of NICCI members, appreciating Sharma's efforts during his previous tenure as Ambassador to India and reminding him of several unresolved issues that still need attention. KC expressed hope that Sharma would address these issues, highlighting that, given India's larger economy and significant volume of Nepal’s trade with India, bilateral issues may arise and must be addressed with sincere efforts.

NICCI members discussed existing issues in Nepal-India bilateral trade and transit, including the synchronisation of harmonised codes at customs in both countries, required documents at Indian ports for imported goods, extra charges and container shortages, financial concerns related to the Electronic Cargo Tracking System (ECTS), the need for additional ports, introduction of Indian Cargo Rail to Biratnagar, development and operation of additional Integrated Container Depots (ICDs) and Integrated Check Posts (ICPs), facilitation of easy access for Nepal-made goods to the Indian market, establishment of quarantine check posts and laboratories at border points, accreditation of Nepali laboratories for certifying agricultural goods for export, re-export of industrial machinery for overhaul in India with provisions for bank guarantees or bonds, review of the 30% value addition requirement for manufactured goods for export, and consideration of exports conducted in Indian currency as in convertible currency. They also discussed the need to ease trade processes and implement the Mutual Recognition Agreement (MRA).

NICCI members also raised concerns about the mandatory BIS Certification for Nepali goods imported into India and the delays caused by factory inspections not being conducted in a timely manner by Indian officials.

Sharma acknowledged NICCI's long-standing contributions to strengthening Nepal-India trade and economic relations. He stated that NICCI's round-table discussion provided valuable insights into the issues that need attention during his upcoming tenure. He assured attendees that he would work sincerely to strengthen bilateral economic relations between the two countries.

NICCI Immediate Past President Shreejana Rana highlighted NICCI's efforts to promote Nepal-India tourism and expressed her belief that cooperation from the Nepali Embassy would be instrumental in achieving this goal.

NICCI Vice President Ravi Kumar Rayavaram delivered a vote of thanks, highlighting issues faced by multinational corporations (MNCs) operating in Nepal and requesting that the envoy consider these as well.

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