If You Are an Indian Looking to Start Up in Nepal, Here's What You Need to Do Looking to explore business opportunities in Nepal? Try the hydro route
By Aastha Singal •
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
With the start-up culture picking up, young individuals are looking for viable opportunities to launch a business and Nepal has ample of them. Sure, India is becoming a playground for new ventures with the government supporting the initiative, by all means, the neighbouring country offers the opportunity to tap into multiple spaces.
In a bid to strengthen economic ties with India, Nepal recently invited India to make investments in Hydropower, roads, highways and the hotel industry. The nation's government is highly focused on these areas to build better a connectivity network and bring down logistics costs. This is without a doubt a great time for Indians to invest in Nepali ecosystem.
Government Support
Understanding the need for investment in electricity, Nepal's government is keen to have foreigners pumping capital to set up projects in the country and in return, is ready to provide all the support in terms of suitable incentives and speedy investment procedure.
"Any investor can come and submit its investment plan and conduct a detailed project report (DPR) and the government will help in fast-tracking the process," Maha Prasad Adhikari, CEO of the Investment Board Nepal (IBN) told reporters at the Nepal Investment Summit 2019, adding, The government will soon come up with a single-window clearance system to facilitate new investments into the country.
Lenient Work Permit
Thousands of Indians migrate to Nepal every year for contributing to the country's development. However, the open border between Nepal and India, there has been no actual data on a number of such citizens working there. To bring things into perspective, Nepal's government has made it mandatory for Indian citizens who come to work in Nepali industries to take the necessary work permit.
Meanwhile, the department has also assured that those Indian citizens who are working without a work permit will get such permit without hassle. With Nepal government taking effective steps to officially provide work permits to Indians, a business established there could be expanded globally.
