India-Nepal Multimodal Logistics & Connectivity Summit 2024 concludes in Birgunj

India-Nepal Multimodal Logistics & Connectivity Summit 2024 concludes in Birgunj

The recently concluded "India-Nepal Multimodal Logistics & Connectivity Summit 2024" in Birgunj, Parsa, saw the participation of key stakeholders from both countries. The summit, organized by the PHD Chamber of Commerce and Industry's India-Nepal Center, along with other chambers like FNCCI, BICCI, and NICCI, focused on discussions around improving connectivity and trade relations.

During the summit, various concerns were raised, including the need to lower logistics and transportation costs to benefit consumers, giving importance to Nepali companies in management custody of Integrated Check Posts/Inland Container Depots, and enhancing connectivity through high-speed railways at Indian border towns. The Consul General of the Indian Consulate in Birgunj, Devi Sahai Meena, highlighted the progress in India-Nepal trade due to initiatives like border infrastructure improvements, rupee payment facilitation, bilateral rail service agreements, and cooperation in sectors like power and fertilizer supplies.

The event also provided a platform for leaders like BICCI President Anil Kumar Agrawal and NICCI Birgunj President Abhishek Choudhary to express concerns about unpredictable cost fluctuations for importers and high shipping expenses. The summit emphasized the importance of fostering a more integrated bilateral economic relationship between India and Nepal through seamless cross-border movement of goods, services, and people, leveraging their geographical proximity, historical ties, and cultural affinities to strengthen trade partnerships and deepen subregional cooperation. India being Nepal's largest trading partner, mutual trade involves a wide array of goods and services, with open borders and tariff-free access further facilitating trade exchanges.