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| 1 |
ID:
105973
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| Publication |
2011.
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| Summary/Abstract |
India and Nepal signed a foreign trade agreement (FTA) in 1971 which has been renewed many times over-latest in 2009. Tariff concessions lie at the core of Indo-Nepal trade arrangements and these concessions have been administered through the ROO criteria.
The Indo-Nepal trade treaty of 1996 was a landmark as India provided duty-free access to all (except three) products manufactured in Nepal. In the period between 1996 and 2002, there was a surge in Nepal's exports to India, mainly in vegetable ghee, copper products, acrylic yarn and zinc oxide, due to large tariff differentials between India and Nepal in the raw materials used in these items. The 2002 treaty imposed a tariff rate quota these four (the tariff rate quota (TRQ) products). Between 2001 and 2002 and 2008 and 2009, India reduced its tariffs on all products whereby Nepal lost its advantage in the TRQ products and the quota utilization has been very low.
Since the benefits of the offered by India under the trade treaties have been transitory, it is important for the two countries to devise a more comprehensive economic agreement sectors. In this direction, India can help Nepal in developing services, especially hydropower and tourism. For this, Nepal needs to develop a more effective regulatory structure and policy framework and India must invest more in the development of Nepal's infrastructure.
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| 2 |
ID:
122386
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| 3 |
ID:
172302
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| Summary/Abstract |
India and Nepal have traditionally shared a unique relationship of friendship and economic cooperation. The relationship is characterised by an open and people-friendly border and is built on shared historical, cultural, linguistic and ethnic links between people residing in India and Nepal.
With Nepal being a priority under India ‘Neighborhood First’ policy, strengthening the economic relationship holds immense significance and potential for both the countries. While the political relations between India and Nepal have been extensively studied, there is not much literature that explores the economic relationship between the two nations. This is an important issue to study, as India is Nepal’s largest export market, the biggest source of its imports, the top investor of foreign capital stock and among the largest donors of foreign aid. India also provides Nepal transit facility through its territory to access seaports for trading with the rest of the world.
Given this, the main objective of this article is to suggest policy measures, which can increase bilateral trade and investment between India and Nepal. The article analyses the bilateral trade patterns and estimates the maximum additional trade potential. A wide range of issues of importance pertaining to bilateral trade, including tariffs, levy of an agricultural reform fee, under utilisation of the tariff rate quota, non-tariff measures, issues related to Rules of Origin (ROO) and physical barriers to cross-border movement of goods are discussed. The trends and changing sectoral composition of India’s investment in Nepal and barriers and opportunities for Indian investment in Nepal are also analysed. The article concludes by charting a way forward for bolstering economic cooperation between the two countries by listing down recommendations for enhancing trade, addressing non-tariff barriers, upgrading infrastructure to improve connectivity and enhancing Indian FDI in Nepal.
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| 4 |
ID:
051387
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| Publication |
Apr-Jun 2004.
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| 5 |
ID:
108432
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