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07/04/2023 08:11:26

Nepal: An emerging power centre in South Asia

No two countries are as closely tied as Nepal and India in geographical, socio-cultural, religious, economic, and diverse other fields. Because of such ties, India’s support to Nepal in its quest for development has remained exemplary. This was seen even during the recent visit by Nepalese Prime Minister Pushpa Kamal Dahal to India between 31 May and 3 June. A wide range of agreements have been signed between Nepal and India.

The two countries renewed the historical Nepal-India transit treaty, apart from signing an agreement for the use of waterways for the transportation of goods. Besides, India allowed Nepal to export its surplus power to India to the tune of 10,000 MW in the next 10 years. India also went out of the way to support Nepal by allowing it to export power up to 50 MW to Bangladesh in the first phase through its transmission lines. By doing so, Nepal secured its market for power supply outside India for the first time.

India also went out of the way to support Nepal by allowing it to export power up to 50 MW to Bangladesh in the first phase through its transmission lines.

Equally, important was the agreement between Nepal and India for constructing two oil pipelines—one between Siliguri (India) and Kakarbhitta (Nepal) and the other between Amlekhgunj-Chitwan in the central development region of Nepal. Also, a memorandum of understanding was signed to facilitate a cross-border digital payment system to further integrate the economies of the two countries.

India’s commitment to buy 10,000 MW of power from Nepal in the next 10 years is a breakthrough in power trade between the two countries. It has not only guaranteed the market for Nepal’s excess power to India on a long-term basis, but it has also generated huge prospects for the growth of both domestic and foreign investment in the power sector in Nepal.

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