New Delhi: Strengthening regional cooperation in hydropower development, tourism, and information technology is crucial for achieving Sustainable Development Goals (SDGs), according to participants at the Nepal-India Economic Conference in New Delhi.

During a discussion on "regional cooperation," speakers emphasized the importance of bilateral partnership and regional collaboration to advance mutual economic growth and SDGs.

Dr. Lokraj Baral, Nepal’s former ambassador to India, highlighted the weakening state of South Asian regional cooperation. He pointed out that while SAARC has not achieved substantive progress, BIMSTEC has yet to deliver significant outcomes. “Nepal and India must take proactive measures to strengthen regional cooperation,” Dr. Baral urged.

India’s former ambassador to Nepal, Manjeev Singh Puri, stressed the need to transcend political interests and focus on economic and cultural partnerships. He highlighted India’s substantial investment in Nepal’s hydropower sector, noting the nearing completion of the Arun III Hydropower Project as a significant milestone in energy collaboration. Puri also called for joint efforts to mitigate climate change and promote green development, while identifying new areas for cooperation.

Economic Advisor to India’s Finance Ministry, Chanchal C. Sarkar, suggested exploring collaboration in national payment systems and digital infrastructure development. He emphasized the potential for cooperation in financial inclusion, start-ups, and financial technology (Fintech).

Concerns over cross-border smuggling of betel nuts and peas were raised by Kathmandu University associate professor Uddhab Pyakurel, highlighting the need for better border management.

In another session, Professor Mahendra P. Lama advocated for connecting hydropower development to a regional market through joint transmission lines, while Pradyumna Prasad Upadhyay from Nepal’s Investment Board underlined the importance of investing in hydropower, IT, and religious tourism.

Indian Foreign Trade Corporation Vice Chancellor Rakesh Mohan Joshi proposed creating a supply chain linking Mount Everest to the oceans to boost bilateral trade.

The conference concluded with a consensus on the importance of taking concrete steps to enhance cooperation in hydropower, digital infrastructure, religious tourism, and youth entrepreneurship. Strengthened economic ties between Nepal and India were identified as key to achieving shared prosperity and regional development.