President of Nepal India Chamber of Commerce, Presidents of CNI, NCC, FNCCI, Former Ambassador of India to Nepal, Manjiv Puri Sir, Senior Leaders from Business and Industry, Esteemed Guests, Friends, Colleagues, very warm Namaste to all of you. And indeed, I am very happy to join all of you in this event today. Many warm words have been spoken about NICCI and I would also like to add a few.

In fact, NICCI was one of the first business interactions that I had when I came to Kathmandu. And as expected the conversation was very rich. I could make out that the members who were present came from very diverse industries, businesses.

And since then, I have learnt more about the association that the embassy has had with NICCI in trying to strengthen the bilateral economic engagement. So, on this 31st AGM, let me extend my congratulations to NICCI and to all the members. Your sincerity and your performance are reflected in your longevity.

I think it is more than three decades now that NICCI has been in existence. So, from our side, best wishes. Hoping all the success for NICCI in the coming year.

On overall bilateral relationship and the economic aspect, I think again some very insightful remarks have been made today. We also heard a very impressive keynote speech. So, before I conclude, I do wish to make a few general points.

I mean in relation to how we see the bilateral relationship, especially the economic engagement. So, looking at it generally, I mean it is very clear that we continue to stand with Nepal in every situation. The relationship is unique, deep.

The people-to-people ties are at a completely different level. So those aspects are very clear. And the members of this audience, I mean you know more about the relationship than probably I do.

You have been invested in it for probably more than decades; I mean few decades. So, you understand the importance, significance of how the bilateral partnership is. And there is a very clear commitment from our side.

And we work well with the government of Nepal to ensure that we fulfil our part. Now trade and economic engagement again. I mean the broad categories that I see, trade and commerce again, a very large partnership, FDI India, FDI from India is probably the largest development partnership you are all aware, and so on.

So, as people have mentioned, this is a very, very comprehensive platform on which to build upon. Now how do we want to take it forward? Where do we see the maximum potential? I think from our perspective first, from a government perspective is what can we do to have more enabling arrangements? I mean this can include documents, this can include understandings, this can include harmonization. A very recent example is when the Honorable Minister of Commerce had visited India.

A letter of exchange was signed to expand the range of cargo being transported through rail between, I think it is, Biratnagar and Jogbani. So just one example. Similarly, connectivity.

Of course, we are working to strengthen connectivity in various domains. It is not only physical; it is also digital. You are well aware of it.

It has been mentioned before. We are also looking at new areas, which is tech, digital, AI, start-ups. So, we recently held an event regarding the AI summit that will be organized in India in February 2026.

And I think more than 500 participants from Nepal attended that event here in Kathmandu, which shows the kind of interest that is there. So, the AI part, the digital part, tech part, we are trying to take forward through various means. In start-ups, 24 representatives from start-ups in Nepal are undergoing a course in IIT Madras.

IIT Madras Pravartak started in December, an eight-week course. I am mentioning these initiatives just to give you a sort of an idea on what are the things that we are doing in these domains. Similarly, again, I mean possibilities in agriculture, infrastructure, manufacturing and so on.

We also remain open to suggestions. We engage closely with business and industry. As and when any issues that require discussion, we work with you and the government of Nepal and back home to try and see how we can address it.

So, the pathway for the future economic partnership as we see it is built upon the traditional areas of strength, explore newer domains, promote closer contacts between businesses and industries on both sides, keep enhancing the enabling frameworks, and we look forward to keep exchanging views with you on all these issues. So, with these words, I think I would like to conclude and reiterate my best wishes to NICCI and all its members.

Thank you very much.