NICCI, FICCI sign MoU to boost Nepal–India trade, investment

KATHMANDU/NEW DELHI: Nepal-India Chamber of Commerce and Industry (NICCI) and the Federation of Indian Chambers of Commerce and Industry (FICCI) have signed a memorandum of understanding (MoU) in New Delhi to deepen trade, investment and cross-border business engagement.

NICCI President Sunil KC and FICCI Director General Jyoti Vij signed the agreement, which institutionalises cooperation between the two apex industry bodies through the exchange of business delegations, information sharing and joint promotional events.

Under the terms of the MoU, both organisations will facilitate reciprocal participation of business representatives in trade missions, investment forums, fairs and exhibitions held in Nepal and India.

NICCI will remain FICCI’s partner in Nepal, while FICCI will serve as NICCI’s exclusive partner in India.

Both chambers have also undertaken to share non-confidential publications and data relevant to trade and investment prospects on a regular basis. “We will organise at least one major joint event every year and facilitate the exchange of business delegations between Nepal and India,” Mr KC said. “Our partnership will also include joint studies, market surveys and publication exchanges focused on identifying emerging areas of mutual economic interest.”

Vij said FICCI and NICCI, as leading business organisations in their respective countries, have a shared responsibility to strengthen the trade and investment relationship between India and Nepal.

The MoU marks a formal step towards reinforcing the two South Asian neighbours’ long-standing economic interdependence. Both bodies pledged to work together to unlock the potential of untapped sectors and address challenges faced by cross-border enterprises.

The agreement extends cooperation beyond bilateral ties into regional frameworks such as BBIN (Bangladesh, Bhutan, India and Nepal) and BIMSTEC (Bay of Bengal Initiative). NICCI members will draw on FICCI’s resources and networks to expand Nepal’s business and economic links.

NICCI President KC added that the partners will establish a 'NICCI-FICCI Track 1.5' initiative to promote bilateral investments. The forum will include representatives of both FICCI member companies and government officials to address investment gaps dating from the 1990s.

Founded in 1927 on the advice of Mahatma Gandhi, FICCI is India’s oldest and most influential business federation. Headquartered in New Delhi, it represents more than 250 000 public and private companies and advocates policy reform, economic growth, innovation and investment.

Likewise, established in 1993 by Prabhakar SJB Rana, NICCI is a bi-national, not-for-profit organisation dedicated to strengthening economic cooperation between Nepal and India. It provides a platform for market analysis, policy dialogue and sectoral collaboration in fields including energy, tourism, infrastructure and manufacturing. The Indian ambassador to Nepal serves as patron of NICCI; the current incumbent is Ambassador Naveen Srivastava.

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