To support the thriving Startup Ecosystem in both India and Nepal and to bring the important stakeholders of bilateral economic cooperation on a common idea platform from both India and Nepal to discuss some of the most crucial aspects concerning investment and partnership, under the aegis of its India-Nepal Centre (INC) and in association with the Nepal SBI Bank Ltd (NSBL) and Confederation of Nepalese Industries (CNI), India-Nepal Startup Summit 2022, was hosted by the PHD Chamber of Commerce and Industry (PHDCCI).

Mr Dipak Kumar De, MD & CEO, Nepal SBI Bank Ltd (NSBL) said that India continues to be the most formidable economic partner due to deep bilateral ties. Foreign investments and approval are the real issues. NSBL is the partner in Nepal’s progress and it looks forward to supporting the startups, he added.

Dr Badri Narayanaqn Gopalakrishnan, Head-Trade & Commerce, NITI Aayog said the startups in Nepal are thriving and there is high potential of engagement. As a health emergency, Covid-19 has given us all a fresh perspective to look at innovation aspects especially in the start-up sector, mentioned Mr Anukool Bhatnagar, CGM & Head-Nepal Desk, State Bank of India (SBI).

Mr Biswas Dhakal, President, F1 Soft International Pvt Ltd and Founder of eSewa said that Nepal’s SME sector is the main source of employment generation in Nepal. The SME sector however in Nepal still remains in the informal sector and access to the formal working capital remains elusive for Nepal’s start-ups, he added.

For fostering economic cooperation and development partnership between India and Nepal, the India-Nepal Centre has been working.