PHDCCI organises 'India–Nepal Fintech Summit 2025' in New Delhi

KATHMANDU: PHD Chamber of Commerce and Industry (PHDCCI), under the aegis of its India-Nepal Centre and in association with Visa Inc and Banking Finance and Insurance Institute of Nepal (BIFIN), organised 'India-Nepal Fintech Summit 2025' in New Delhi, India on Monday.

The summit brought together leading policymakers and industry figures from Nepal and India to explore ways of strengthening bilateral cooperation in financial technology (fintech). Discussions focused on community engagement, social, financial and digital inclusion, diversity and social impact as key drivers of payment innovation.

Shankar Prasad Sharma, Ambassador of Nepal to India, said Nepal had made rapid advances in mobile banking and digital services. He called for swift implementation of memoranda of understanding (MoUs), improved inter-ministerial coordination and enhanced systems for digital-service exports, taxation and international payments to unlock the sector’s full potential.

Ambassador Munu Mahawar, Additional Secretary (North) in India’s Ministry of External Affairs, emphasised the historic and cultural ties between India and Nepal. He praised the PHDCCI India-Nepal Centre for strengthening economic links and noted Nepal’s privileged access to the Indian market as a basis for future growth.

Anand Jha, Vice President (Head of Government Engagement: India & South Asia), Visa Inc, said the summit was inspired by his visit to Nepal, where he identified a strong need for mentorship among start-ups. He highlighted Nepal’s untapped digital-payments market and compared it with India’s own fintech journey, supported by initiatives such as Startup India.

Vaibhav Taranekar, Vice President (Client Services), Visa Inc, described fintech as central to South Asia’s financial ecosystem. He observed that collaboration had empowered merchants to optimise their digital footprints and underlined the role of joint efforts in building a robust support system for fintech.

The summit was chaired by Ambassador Manjeev Singh Puri, Chair of PHDCCI’s India-Nepal Centre and former Ambassador of India to Nepal, and moderated by Atul K Thakur, Secretary of the India-Nepal Centre, PHDCCI. Other speakers included Md Alam Ansari, Deputy Director (Startup India) at the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, Government of India; Dr Jatinder Singh, Deputy Secretary-General of PHDCCI; Anukool Bhatnagar, Adviser to the India-Nepal Centre, PHDCCI and former MD & CEO of Nepal SBI Bank; Jyoti Prakash Gadia, Co-Chair of the BFSI Committee and Managing Director of Resurgent India Ltd; Diwas Sapkota, CEO of Fonepay; Pranaya Rajbhandari, CEO of FOCUSONE Payment Solutions (MOCO – Digital Wallet); Dr Binod Atreya, Managing Director of BFIN; Dushyant Thakor, Deputy Executive Director of the World Association of Investment Promotion Agencies (WAIPA); Dr Seema Sharma, Professor of Economics in the Department of Management Studies at IIT Delhi; Dr Jayanthi Ranjan, Vice-Chancellor of Sharda University (Agra); Dr Deepak Tandon, Senior Professor of Finance at Jaipuria School of Business; Shishir Sinha, Associate Editor of The Hindu Business Line; Shashvat Singh, Senior Fellow at India Foundation; Aniruddha Shanbhag, Director of Koan Advisory Group; Mahesh Kumar Agrawal, Bihar State Co-ordinator at Seema Jagran Manch; Atul Koirala, Board Member of the BP Koirala India-Nepal Foundation and techno-entrepreneur; and Bikas Rauniar, Executive Director of Interstate Multi Modal Transport.

India and Nepal have already linked India’s Unified Payments Interface (UPI) with Nepal’s National Payments Interface (NPI). A June 2023 MoU between National Payments Corporation of India’s international arm (NIPL) and Nepal Clearing House Limited (NCHL) has eased cross-border fund transfers and merchant payments. Challenges remain in establishing a comprehensive regulatory framework in Nepal and attracting a stronger investor network to sustain fintech growth.

The summit concluded with policy recommendations to streamline payment systems between India and Nepal, enabling businesses and consumers in both countries to benefit from a more integrated fintech ecosystem.