President Ram Nath Kovind received Nepalese Prime Minister KP Sharma Oli at Rashtrapati Bhavan on Saturday morning.
The Prime Minister, who is on his first foreign trip after returning to power in February, arrived on his three-day visit on Friday.
The President hailed the friendship between India and Nepal, and praised Oli’s contribution to India-Nepal partnership.
“No other countries in the world have the bonds of friendship and cooperation that exist between India and Nepal. Regular exchanges of visits at the highest political level demonstrate the priority that we attach to our special partnership,” the President said.
President Kovind stressed that India is ready to expand cooperation with Nepal as per “Nepal’s priorities”.
“India’s abiding interest is in the stability and economic prosperity of Nepal. India stands ready to expand cooperation with Nepal as per Nepal’s priorities,” he said.
Earlier today, Oli was accorded a ceremonial reception at the forecourt of Rashtrapati Bhavan. He was welcomed by President Ram Nath Kovind and Prime Minister Narendra Modi.
Oli inspected a Guard of Honour before addressing media persons.
“Friendship is most important and there is no comparison with friendship. Any treaty any agreement, everything starts from friendship,” said Oli.
“With our neighbours, particularly with India, we first expect friendship according to the needs of time and according to the desires of our people,” said the 66-year-old chief the Communist Party of Nepal (Unified Marxist–Leninist).
Oli stressed that the friendship between India and Nepal is “historical” and “oriented towards the future; not looking back but looking forward”.
On Friday, Oli met Prime Minister Narendra Modi in an informal meeting at the latter’s 7, Lok Kalyan Marg residence. The two will hold delegation level talks on Saturday at Hyderabad House.
Oli’s first foreign visit to India after taking charge as Nepal Prime Minister for the second time keeps up with the tradition of India-Nepal ties under which a Nepalese prime minister always makes the first visit to India.
Oli also met Congress president Rahul Gandhi and former prime minister Manmohan Singh. They discussed “various dimensions of Nepal-India relations”, according to the Nepalese Embassy here.
The Nepalese PM also interacted with representatives of the Indian business community where he pitched for investment in his country.
“Nepal will need massive investment, many of its sectors are virgin territory for investment. I invite Indian companies to come and invest in Nepal… (that) is now safe for foreign investment,” he said.
Indian firms are the biggest investors in Nepal, accounting for about 40 per cent of total approved foreign direct investments (FDI) and are working in the manufacturing, services, power and tourism sectors. Some large Indian investors include ITC, Dabur, Hindustan Unilever, MTNL, State Bank of India, Punjab National Bank, Life Insurance Corp and Asian Paints.
In 2016-17, Nepal imported $6.1 billion worth of goods and services from India and exported only a little more than $400 million worth, making for a trade deficit of over $5.7 billion.
He had to step down as Nepal Prime Minister in 2016 following a blockade on the India-Nepal border. Many in the Himalayan nation blame India for the blockade that crippled Nepal’s economy.
The ties were further strained after Nepal decided to join China’s One Belt One Road amid India’s concerns that the Chinese initiative would harm its strategic and economic interests. Nepal has also signed a host of trade and transit pacts with China.
According to Nepalese media, Oli will take up with Modi various issues including the early execution of India funded projects in Nepal, implementation of the Mahakali Treaty, which pertains to sharing water of a river by the same name, and construction of integrated check-posts.
Oli is also scheduled to visit the GB Pant University of Agriculture and Technology and the Breeder Seed Production Centre and an integrated farming project in Uttarakhand.
(With inputs from agencies.)