Charge-d-affaire at the Indian Embassy in Nepal Jaideep Mazumdar on
Friday said India is willing to sign power trade agreement with Nepal to
liberalise imports and exports of electricity between the two
neighbouring countries.
“Yes, we’re ready to sign the agreement with Nepal,” Mazumdar told the first session of Nepal-India Business Conclave, a monthly talk series organised jointly by the Nepal India Chamber of Commerce and Industry and the Indian Embassy in Nepal.
Nepal is currently relying on Power Exchange Agreement for import and export of electricity. But since the agreement has put a cap on electricity trading, Nepal has long been demanding that India sign the pact that opens the floodgates for imports and exports of power.
“We are positive about signing the agreement as it would benefit northern Indian states, which are now depending on fuels like coal that is polluting the environment,” Mazumdar said.
Mazumdar’s statement comes at a time when various international investors are urging Nepal to sign a power trade agreement with India so that hydroelectricity that Nepal has potential to generate can be exported to India.
President of the Federation of Nepalese Chambers of Commerce and Industry Suraj Vaidya said it was essential to boost power production to reduce cost of production in Nepal. “Boosting power production here would also create a win-win situation for both the countries,” the Charge-d-affaire at the Indian Embassy said.
Src THT
“Yes, we’re ready to sign the agreement with Nepal,” Mazumdar told the first session of Nepal-India Business Conclave, a monthly talk series organised jointly by the Nepal India Chamber of Commerce and Industry and the Indian Embassy in Nepal.
Nepal is currently relying on Power Exchange Agreement for import and export of electricity. But since the agreement has put a cap on electricity trading, Nepal has long been demanding that India sign the pact that opens the floodgates for imports and exports of power.
“We are positive about signing the agreement as it would benefit northern Indian states, which are now depending on fuels like coal that is polluting the environment,” Mazumdar said.
Mazumdar’s statement comes at a time when various international investors are urging Nepal to sign a power trade agreement with India so that hydroelectricity that Nepal has potential to generate can be exported to India.
President of the Federation of Nepalese Chambers of Commerce and Industry Suraj Vaidya said it was essential to boost power production to reduce cost of production in Nepal. “Boosting power production here would also create a win-win situation for both the countries,” the Charge-d-affaire at the Indian Embassy said.
Src THT
