In a significant move to deepen economic cooperation between Nepal and India, the Nepal-India Chamber of Commerce and Industry (NICCI) and the Federation of Indian Chambers of Commerce and Industry (FICCI) have signed a Memorandum of Understanding (MoU) to jointly promote trade, investment, and cross-border business engagement.

According to a statement issued by the NICCI, the agreement, signed in New Delhi by NICCI President Sunil KC and FICCI Director General Jyoti Vij, aims to institutionalise cooperation between the two apex industry bodies by exchanging business delegations, sharing information, and holding joint promotional events.

Under the terms of the MoU, both organisations have agreed to facilitate reciprocal participation of business representatives in trade missions, investment forums, fairs, and exhibitions held in each country.

According to the understanding, NICCI will remain a Nepal partner for FICCI in Nepal, and FICCI will remain an exclusive Indian partner for India.

The two sides will also regularly share non-confidential publications and data relevant to trade and investment prospects.

“We will organise at least one major joint event every year and facilitate the exchange of business delegations between Nepal and India,” said KC. “Our partnership will also include joint studies, market surveys, and publication exchanges focused on identifying emerging areas of mutual economic interest.”

Jyoti Vij, director general of FICCI, emphasised the responsibility of both institutions to foster closer economic ties. “As leading business organisations in our respective countries, both FICCI and NICCI are committed to strengthening the trade and investment relationship between India and Nepal,” she said.

Founded in 1927 on Mahatma Gandhi's advice, FICCI is India’s oldest and most influential business federation. Headquartered in New Delhi, it represents over 250,000 companies across the public and private sectors and promotes policy reforms, economic growth, innovation, and investment.