PM Modi and Nepal PM KP Sharma Oli Discuss Strengthening Bilateral Ties in New York

Prime Minister Narendra Modi met Nepal's Prime Minister KP Sharma Oli in New York, marking their first encounter since Oli's recent appointment. The leaders discussed enhancing their nations' deep-rooted bonds and economic cooperation, emphasizing India's pivotal trade role and ongoing high-level engagements between the two countries.

Prime Minister Narendra Modi on Sunday engaged in a bilateral meeting with Nepalese Prime Minister KP Sharma Oli at the Lotte New York Palace Hotel, New York. Speaking to ANI, Oli described the encounter as 'very good'.

This meeting was the first interaction between the two leaders following Oli's third appointment as Nepal's prime minister in July, taking over from Pushpa Kamal Dahal 'Prachanda'. PM Modi congratulated Oli on his new role and expressed hopes for closer collaboration to fortify the longstanding friendship and cooperative endeavors between India and Nepal.

With a shared border connecting five Indian states—Sikkim, West Bengal, Bihar, Uttar Pradesh, and Uttarakhand—Nepal's ties with India are deepened by significant cultural and civilizational bonds. Nepal remains a key partner under India's 'Neighbourhood First' Policy, further reinforced by regular high-level exchanges. Since May 2014, 17 such exchanges have taken place, including 10 visits by Nepalese prime ministers to India and five visits by PM Modi to Nepal.

Indian investment in Nepal stands robust, with firms owning 33.5% of total FDI in Nepal, amounting to nearly $670 million. Nepal ranks as India's 17th largest export destination, a leap from the 28th position held in 2014. Trade between the nations includes $8.85 billion in total trade during the Indian financial year 2022-23, cementing India as Nepal's primary trade partner.

PM Modi's New York visit is part of his three-day US tour. On Saturday, he attended the Quad Summit and held bilateral meetings with President Joe Biden, Australian Prime Minister Anthony Albanese, and Japanese Prime Minister Fumio Kishida. Quad aims to bolster peace, progress, and prosperity in the Indo-Pacific region. Modi and Biden explored furthering the India-US Comprehensive Global Strategic Partnership.

Additionally, PM Modi engaged with influential American business leaders, essential stakeholders of the burgeoning US-India partnership. His address at the Summit of the Future at the UN General Assembly is anticipated to underscore these collaborative efforts.

(With inputs from agencies.)