On Thursday, Nepal and India conducted a thorough review of their bilateral ties and cooperative initiatives during the seventh meeting of the India-Nepal Joint Commission. India's External Affairs Minister, S. Jaishankar, co-chaired the talks with his Nepalese counterpart, N.P. Saud, who both arrived in Kathmandu for the occasion.
Jaishankar tweeted about the comprehensive and productive meeting, highlighting discussions on various aspects, including overall bilateral ties, trade and economic relations, connectivity projects (land, rail, and air), cooperation in defense and security, agriculture, energy, power, water resources, disaster management, tourism, civil aviation, people-to-people contact, cultural exchanges, and development partnership.
The India-Nepal Joint Commission serves as the highest-level political mechanism to assess the state of bilateral relations. The meeting resulted in the signing of several agreements and memorandums of understanding (MoU). India pledged a grant of NPR 1,000 crore to assist Nepal in its reconstruction efforts after the devastating earthquake last year, marking a new grant for this purpose.
An additional agreement on long-term power trade was signed, aiming to achieve a target of exporting 10,000 megawatts of electricity to India over the next decade. Other agreements included an increase in Indian aid for small development projects in Nepal, raising the budget from Rs 5 crore to Rs 20 crore. India also committed Rs 10 billion in financial aid for the reconstruction of Jajarkot and Rukum West, the areas most affected by the November earthquake.
Furthermore, an agreement was reached for the launch of Nepali satellites by the Nepal Academy of Science and Technology in collaboration with New Space India Limited under the Indian Space Research Organisation (ISRO). ISRO will launch satellites made in Nepal. An MoU for cooperation in the renewable energy sector was signed between the Nepal Electricity Authority and the National Thermal Power Corporation (NTPC), India. Additionally, Saud and Jaishankar jointly inaugurated three cross-border transmission lines.
(With Agency Inputs)
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