India is Nepal’s largest export destination, receiving an overwhelming 74% of its total exports…reports Asian Lite News
Reiterating their shared commitment to uninterrupted trade and economic exchanges, India and Nepal on Monday underscored the criticality of supply chains and discussed ways to keep them pandemic proof.
In a virtual meeting between the Secretary, Department of Commerce of India, Anup Wadhawan and Secretary, Industry, Commerce and Supplies of Nepal, Dinesh Bhattarai, a shared commitment to uninterrupted trade and economic exchanges was reiterated.
Underscoring the criticality of supply chains, the secretaries of the two countries discussed ways to keep them pandemic-proof.
“A shared commitment to uninterrupted trade & economic exchanges. Secy @DoC_GoI Mr Anup Wadhawan & Secy @MoCNepal Mr Dinesh Bhattarai met virtually to underscore the criticality of supply chains & discussed ways to keep them pandemic-proof,” said a tweet of the Indian Embassy in Nepal.
According to Nepal Customs, India is Nepal’s largest export destination, receiving an overwhelming 74% of its total exports followed by US with a distant 10% share, Germany 3%, UK 2%, Turkey 1.5%.
Ambassador of India to Nepal, Vinay Mohan Kwatra, in an article republished by INN had stated that even after an initial slowdown in April 2020 the trade flows between India and Nepal quickly picked up, and steadily began to exceed even long term averages.
Citing statistics published by Nepal Customs, the Indian envoy indicated that during the first nine months of Nepali Fiscal year 2077-78, Nepal’s exports to India saw an unprecedented 23.5% increase over the same period last year.
“This is remarkable considering that the trade flows in the rest of the world actually dipped in this period, by almost 5%,” he said. (INN)