Finance Minister's Diplomatic Dialogue in New Delhi: Emphasis on Elevating Nepal-India Economic and Strategic Partnership to New Heights
Finance Minister Dr. Swarnim Wagle has emphasized the need to elevate Nepal-India economic and strategic partnership to new heights. Speaking at a high-level roundtable dialogue at the India International Centre in New Delhi, he stressed expanding physical, digital, and energy networks, reforming trade treaties, and boosting investment.
New Delhi. Finance Minister Dr. Swarnim Wagle has emphasized the need to elevate Nepal-India economic and strategic partnership to new heights. Wagle, who is on an official visit to India, stated that expanding physical, digital, and energy networks is indispensable to making the partnership between the two countries timely.
Addressing a high-level diplomatic roundtable dialogue organized on Friday at the India International Centre (IIC) in New Delhi, Finance Minister Wagle expressed this view. Discussing the recent natural disaster Nepal faced and the loss of life and property it caused, he expressed gratitude for the promptness and remarkable assistance shown by the Government of India and its people during the crisis. He informed that Nepal is firmly implementing the 'Build Back Better' concept to make post-disaster reconstruction sustainable and safe.
Noting that although Nepal's role in climate change is negligible, its Himalayan and coastal ecosystems have had to bear its brunt heavily, Wagle said that Nepal and India should jointly advance the issue of climate justice in international forums. Additionally, he emphasized moving beyond traditional aid patterns and maximizing the mobilization of changing dimensions of development finance, green finance, and concessional financial instruments.
Investment and Cooperation
Finance Minister Wagle pointed out the need to timely reform the existing Nepal-India trade treaty to reduce trade deficit and eliminate non-tariff barriers. He called on the Indian side to increase direct foreign investment from India in energy, productive industries, and technology sectors, as policy and legal reforms have been made to improve the investment environment in Nepal.
People's Mandate, Good Governance, and Development Aspirations
Finance Minister Wagle reminded that the current government was formed with a heavy mandate from the Nepali people and said the government is fully committed to fulfilling the people's desire for rapid development and economic transformation. 'Our development aspirations are based on policy stability and institutional reform,' he said. 'The current government is determined to maintain zero tolerance against corruption and ensure good governance. A transparent and accountable governance system is the foundation of economic prosperity.'
High-Level Participation and Deliberations
Senior Indian politicians, diplomats, strategists, and economists were present at the event. Shyam Saran, Chairman of the India International Centre (IIC), which also hosted the event, and former Indian Ambassador to Nepal and former Foreign Secretary, played a significant role in the roundtable dialogue. Saran, who currently leads the IIC, held the view that such in-depth and open deliberations at the policy level would be fruitful in making Nepal-India relations timely.
The event was attended by Finance Minister Wagle, former Indian Foreign Secretary and former Ambassador to Nepal Saran, senior leader of the Indian National Congress and Rajya Sabha member Jairam Ramesh, former National Security Advisor and former Foreign Secretary Shivshankar Menon, former Deputy National Security Advisor and diplomat Pankaj Saran, renowned economist and Emeritus Professor at JNU (former Vice-Chancellor, University of Delhi) Prof. Deepak Nayyar, Chairman of India Trade Promotion Organisation (ITPO) Javed Ashraf, former Indian Ambassador to Nepal Ranjit Rae, Head of Foreign Affairs Department of Bharatiya Janata Party (BJP) Dr. Vijay Chauthaiwale, South Asian geopolitics and connectivity scholar Dr. Constantino Xavier, Director at the Indian Ministry of External Affairs Manusmriti, Diplomatic Affairs Editor of The Hindu Suhasini Haidar, and the Nepali delegation.
During the discussions, Indian experts and diplomats praised Nepal's democratic stability, commitment to good governance, and economic agenda. Participants concluded that the shared prosperity of both countries depends on cross-border connectivity, energy partnership, and mutual trust, and emphasized making bilateral mechanisms more result-oriented.