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Oli invites more Indian investment in Nepal

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New Delhi, April 6 (IANS) Declaring Nepal as a safe investment destination following the formation of a stable government, Prime Minister K.P. Oli on Friday invited Indian investment to participate in the development process of the Himalayan nation.

As part of efforts to attract foreign investment, the Investment Board of Nepal, chaired by Oli, is going to shortly hold a global investors summit in Kathmandu that is being jointly organised with the Confederation of Indian Industry (CII) and which will be attended by Indian Commerce Minister Suresh Prabhu, officials said here at the CII-organised India-Nepal Business Forum with Oli participating.

“Nepal is now safe for foreign investment. Any attempt to disrupt law and order will be dealt strongly,” said Oli, who arrived here on Friday on a three-day visit — his first foreign trip after he returned to power in February for a second time.

“Indian investors have invested across the globe, so why not Nepal… because in terms of geographical access and cultural similarity (with India) it is all there in Nepal,” he said.

“Nepal will need massive investment, many of its sectors are virgin territory for investment. I invite Indian companies to come and invest in Nepal,” he added.

A 54-member high-level delegation is accompanying Oli, including a number of ministers, while officials here said that both governments are currently discussing the creation of an India-Nepal Joint Business Forum.

Noting that his government enjoys three-fourths majority in Nepal’s lower house of Parliament allowing for “stability and continuity in policy”, Oli said: “My Government is committed to a liberal economy and liberal economic policies with the private sector as a key partner.

“We have no intention to reverse this trend,” he added.

Indian firms are the biggest investors in Nepal, accounting for about 40 per cent of total approved foreign direct investments (FDI) and are working in the manufacturing, services, power and tourism sectors. Some large Indian investors include ITC, Dabur, Hindustan Unilever, MTNL, State Bank of India, Punjab National Bank, Life Insurance Corp and Asian Paints.

In 2016-17, Nepal imported $6.1 billion worth of goods and services from India and exported only a little more than $400 million worth, making for a trade deficit of over $5.7 billion.

Nepal hopes to correct this trade imbalance by attracting more Indian FDI into the country.

–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma

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World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.

Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.

During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.

On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”

Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.

It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.

Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.

Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”

On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”

The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.

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