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Nepal PM pitches for Indian investments
What has happened?
Nepal’s economy at present depends heavily on global remittances, which make up about 30% of its GDP. More than four million Nepalese live and work outside the Indian subcontinent, with about five to seven million estimated to be living and working in India, crossing an open border between the two countries.
Focus of the visit
- Rebuilding the Nepali economy, still scarred from the 2015 earthquake as well as systemic issues
- He made a pitch for more businesses to invest in Nepal, while telling the Nepalese diaspora in Delhi that he would “build an environment” that would help attract them back home as well
Fact
Nepalese PM’s first visit abroad after getting elected
