India's FDI to Nepal stood at Nepali Rs 3.24 billion for 2019-20

India in 2019 has committed foreign direct investment (FDI) of Nepali Rupees 3.24 billion for the year 2019-20, data from the Department of Industry showed.

India in 2019 has committed foreign direct investment (FDI) of Nepali Rupees 3.24 billion for the year 2019-20, data from the Department of Industry showed. India in last the fiscal year proposed a total of 16 FDI proposals with pledges mainly targeting hotels with restaurants, manufacturing industry and construction industry and software development. In the year of 2018-19, the investment proposals stood at 50.

"Indian investors want to invest more in Nepal. The share of Indian FDI in Nepal stands at over 51 per cent in the Himalayan Nation but there are some provisions regarding sending dividends and service-related payments from Nepal to India, which should be eased to boost it further," Saibal Ghosh, Vice President of the Nepal-India Chamber of Commerce and Industry and Coordinator of the Indian Industry Forum Committee said in a webinar. Nepal's Department of Industry data showed that the country received a foreign investment commitment worth Nepali Rs 25.79 billion in the fiscal year of 2019-20, with 177 companies willing to invest in Nepal. (ANI)