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    Strengthening India-Nepal Economic Relations

    Taneja, Nisha; Prakash, Shravani; Bimal, Samridhi; Garg, Sakshi; Roy, Riya | July 2019
    Abstract
    India and Nepal have traditionally shared a unique relationship of friendship and economic cooperation. The relationship is characterized by an open and people-friendly border and is built on shared historical, cultural, linguistic, ethnic links between people residing in India and Nepal. With Nepal being a priority under India ‘Neighborhood First’ policy, strengthening the economic relationship holds immense significance and potential for both the countries. India is Nepal’s largest export market, the biggest source of its imports and the top investor of foreign capital stock. India also provides Nepal transit facility through its territory to access sea ports for trading with rest of the world. Given this, the main objective of this paper is to suggest policy measures which can increase bilateral trade and investment between India and Nepal. We analyse the bilateral trade patterns and estimate the maximum additional trade potential. We discuss a wide range of issues of importance pertaining to bilateral trade, including tariffs, levy of an agricultural reform fee, under-utilization of the tariff rate quota, non-tariff measures, issues related to ROO and physical barriers to cross-border movement of goods. We also analyse the trend and changing sectoral composition of India’s investment in Nepal. We discuss barriers and opportunities for Indian investment in Nepal. The paper concludes by charting a way forward for bolstering economic cooperation between the two countries by listing down recommendations for enhancing trade, addressing non-tariff barriers, upgrading infrastructure to improve connectivity and enhancing Indian FDI in Nepal.
    Citation
    Taneja, Nisha; Prakash, Shravani; Bimal, Samridhi; Garg, Sakshi; Roy, Riya. 2019. Strengthening India-Nepal Economic Relations. © Indian Council for Research on International Economic Relations. http://hdl.handle.net/11540/10947.
    Keywords
    Free Trade
    Trade Facilitation
    Trade
    Economic integration
    Regional Economic Integration
    Intraregional Trade
    Macroeconomic
    Macroeconomic Analysis
    Macroeconomic Framework
    Macroeconomic Models
    Macroeconomic Performance
    Macroeconomic Planning
    Macroeconomic Policies
    Macroeconomic Reform
    Macroeconomic Stabilization
    Economic planning
    Economic structure
    Growth policy
    Trade relations
    Trade policy
    Economic development
    Economies in transition
    International economy
    Border integration
    Economic integration
    Gross domestic product
    Trade Regulations
    Exchange Rate
    Economic zones
    Protection
    Regional economics
    Economic forecasting
    Economic development projects
    Success in business
    Business
    Free trade
    Business
    Economics
    Communication in economic development
    Restraint of trade
    International economic integration
    Trade blocs
    East-West
    Exchange rates
    Economic Zones
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    Citable URI
    http://hdl.handle.net/11540/10947
    Metadata
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    Working_Paper_381.pdf (1.284Mb)
    Author
    Taneja, Nisha
    Prakash, Shravani
    Bimal, Samridhi
    Garg, Sakshi
    Roy, Riya
    Theme
    Trade
    Economics
     
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise