Nepalese Prime Minister Sher Bahadur Deuba today reposed faith in 'Make in India' initiative saying it would also help Nepal in reviving its manufacturing and job creation.
"Our production base is weaker than it was 20 years ago. But with campaigns like Make in India we are hopeful that we can revive the successes of mid-1990s. Through FDI, we are eager to participate in the scaling up benefit from the regional value chain," Deuba said addressing at industry here.
Observing that hundreds of thousands of young Nepalese migrate overseas for gainful work, he said, "We are optimistic that we can revive our manufacturing and create jobs in large numbers by partnerships with industries from India.
The Nepal prime minister has arrived here today on a four-day visit. This is his first trip abroad after assuming office in June.
Deuba said that his goal is to work for the future youth and his talks with Prime Minister Narendra Modi will emphasise a forward looking development agenda that is defined by collaboration on projects that can inspire both societies and transform their economies in 21st century.
He said, "With the rise of China and India as global economic powers ... Nepal can be the new melting pot -- tourist, traders and investors."
On this occasion, Oil Minister Dharmendra Pradhan said that the foundation stone for oil product pipeline would be laid by October this year.
The minister also said that India intends to take further the natural gas pipeline from Gorakhpur to Sonwal in Nepal.
He also said that India Oil and Nepal Oil are in talks for setting up 100 petrol pumps in the neighbouring country so that employment can be generated for 2,500 youth.
He also pointed out that India wants that those petrol pumps should be owned and run by Nepalese youth.
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