India, Nepal Sign Four Pacts to Boost Trade and Connectivity
India and Nepal recently sealed four agreements, focusing on commitments to long-term power trade and satellite launches. The joint commission meeting, led by India's External Affairs Minister S Jaishankar and Nepalese counterpart Narayan Prakash Saud, emphasized boosting collaboration in connectivity and trade. Jaishankar's first foreign engagement of the year involved extensive discussions, reviewing bilateral relations, economic connections, and strategies for land, rail, and air connectivity. The talks extended to cooperative efforts in defence, security, agriculture, energy, and water resources, as highlighted in Jaishankar's post on X.
During the recent agreements signed between both nations, one specifically targeted long-term power trade between their governments. In June 2023, Nepal Prime Minister Pushpa Kamal Dahal's visit to New Delhi led to an agreement to increase India's procurement of hydropower from Nepal to 10,000 MW within the next ten years. Additionally, in that meeting, External Affairs Minister Jaishankar conveyed Prime Minister Narendra Modi's 'warm wishes' to Prime Minister Dahal.
Jaishankar shared on X, 'Recalling his successful visit to India in June 2023, which injected new vigor into our relationship. We discussed follow-up actions, including today's Joint Commission Meeting. The bond between India and Nepal is exceptional, and our partnership continues to strengthen'.
"Furthermore, an MoU between India's NTPC Limited and the Nepal Electricity Authority aims to collaborate on developing renewable energy. Another pact between New Space India Limited (NSIL) and the Nepal Academy of Science and Technology (NAST) will facilitate launching the Munal satellite using India's Polar Satellite Launch Vehicle (PSLV). The fourth agreement involves Indian grants to support high-impact community development projects implemented by the Nepalese government".