Namaste Nepal
Namaste Nepal is a project dedicated to fostering connections with Nepal. Since 2022, we have been actively working to create export and import opportunities for our members.
We participated in an exhibition held from February 26 to February 28, 2022, where we showcased 10 companies. Our mission is to support MSME companies in establishing import-export operations with Nepal and successfully launching their products in the Nepalese market.
Our expert team, with a strong background in marketing and industry knowledge, continuously works on building connections with Nepalese companies. They ensure a seamless collaboration and provide valuable support to our members.
We are connected with many organisations who support nepalese companies to grow.
Nepal and India share a long history of trade and commercial exchanges. India is Nepal’s largest trade partner. The volume of bilateral trade has reached over NRS 1134.53 billion during the last fiscal year 2022-23 with imports from India amounting to NPR1027.84 billion and exports to India standing over NPR 106.69 billion.
|
Particulars
|
2020-21
|
2021-22
|
2022-23
|
|---|---|---|---|
|
Export
|
106.37
|
155.22
|
106.69
|
|
Import
|
971.60
|
1200.15
|
1027.84
|
|
Volume
|
1077.97
|
1355.37
|
1134.53
|
|
64.12
|
63.90
|
64.13
|
Source: Nepal Rastra Bank
EXPORTS
Nepal’s key export items in 2023 include food vegetable palm oil, soybean oil, cardamom, woolen carpets, iron and steel products, and polyester yarn. Traditional exports consist of jute products, leather goods, ginger, tea, ready-made garments, handicrafts, agro- and forest-based products, and medicinal herbs. Emerging export items include plywood, noodles, rosin, toothpaste, and shoes.
High-potential export items include energy, drinking water, mushrooms, saffron, and floriculture products. Additionally, vegetable seeds, orthodox and CTC tea, niger seeds, essential oils from medicinal and aromatic plants, leather goods, woolen products, silver articles and jewelry, and gold jewelry show promising prospects for export growth.
IMPORTS
Over the years, Nepal’s imports have risen significantly. Major import items include petroleum products, transport equipment and parts, electronics, machinery and components, rice, crude soybean oil, medicines, telecommunication equipment and parts, ready-made garments, fertilizers, and coal, among others.
BILATERAL MECHANISM
The Nepal-India bilateral trade framework is governed by the Nepal-India Treaty of Trade (2009), the Agreement of Cooperation to Control Unauthorized Trade (2009), the Treaty of Transit (1999), and the Rail Services Agreement (2004). These agreements establish mechanisms to facilitate trade and transit between the two countries.
Under the Treaty of Trade, Nepalese-manufactured goods enjoy duty-free access to the Indian market on a non-reciprocal basis, except for a short negative list that includes items such as cigarettes, alcohol, and cosmetics. To qualify for duty-free access, exported goods must meet two criteria:
- A domestic value addition of at least 30%.
- A change in the Harmonized System (HS) classification at the four-digit level during processing in Nepal.
Annual quotas apply to duty-free exports of certain sensitive items to India:
- Vegetable fats: 100,000 metric tons
- Acrylic yarn: 10,000 metric tons
- Copper products: 10,000 metric tons
- Zinc oxide: 2,500 metric tons
Bilateral trade primarily occurs in Indian rupees (INR). However, Nepal’s central bank maintains a list of approximately 163 items that can be imported from India in US dollars using a Letter of Credit. The Indian rupee is convertible in all banks and financial institutions in Nepal, with an exchange rate fixed at NRs. 1.6 per INR.
For more details or to collaborate with Namaste Nepal, please feel free to contact u
Gallery
Our nepal office bearier
Pradeep Shah
President
Rohit Shah
