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Everything you Need to know about Exports to Nepal from India after Covid-19?  

India is the largest trading partner of Nepal and shares strong bilateral trade from ages. India has provided a transit facility to Nepal for the third country trade. India has been providing transit services to Nepal for trade with third countries. Both countries’ bilateral trade volumes have been growing consistently over the years. Join import export classes and know more about Nepal and India trade relations. Import export business training gives a better understanding of export import business.  India and Nepal are close neighbours and share a unique friendship. There is free movement of people across the border of the two countries.   Do you know the two countries established diplomatic relations on 17 June 1947. The open border between both countries remains a unique feature of the relationship. Import export business training in Hindi will help you in starting your business easily. 

India and Nepal Bilateral Trade- 

The bilateral trade reached over NRS 976.78 billion during the eleven months of FY 2020-21, with exports from India amounting NPR 886.59 billion (INR 552.44) and import to India from Nepal standing over NPR 90.19 billion (INR 56.20).  The trade in 2018-19 reached INR 57,858 cr (US $8.27 billion). The value of Nepal’s exports to India was INR 3,558 Cr (US $508 million) and the value of India’s exports to Nepal was INR 54,300 Cr (US $7.76 billion).  Nepal’s main imports partner is India accounting for 58% of all imports. Here is the list of some products that you can export to Nepal and make good profit after Covid-19.

Top Profitable Products to Export Nepal after Covid-19: 

1 Petroleum Products  2 Transport Equipment & parts  3 Machinery & parts  4 Rice  5 Medicine  6 Coal  7 Ready garments  8 Crude soya bean oil  9 Telecommunication equipment  10 Agri equipment and electrical equipment  

Some other Products that you can Export to Nepal and earn Good Profit- 

M.S. billet, Cement, Hot rolled Sheet in Coil, Agri Equipment, Gold, and Food. 

Currency Exchange- 

The bilateral trade between both the countries takes place in Indian Rupees. The Indian rupee is convertible in all banks and financial institutions in Nepal. The exchange rate is maintained at NRs 1.6 per Indian rupee.   As part of bilateral cooperation to combat illegal trade, India and Nepal have signed a treaty of transit, a trade agreement, and an agreement on cooperation.  Other than India, some other trading partners of Nepal are China, Indonesia, Argentina, South Korea, Malaysia, Japan, and Germany.  

Covid-19 has impacted both the countries badly but the economy is reviving slowly and has taken up a good speed. Trade between both the countries has started again, this time with more speed and more export import options for both sides.  If you are afraid of China being the competition of India for Nepal, let me tell you-  Nepal is dependent on India for the supply of essential goods and it’s imports from India account for two-third whereas China is just 14%. Talking about exports of Nepal, India receives 60% of Nepal’s total exports whereas China receives only 2%.   Nepal has also come over from the deadly pandemic. Nepal’s foreign trade surged by 79.71% during the first month of the current 2021-22 fiscal year despite Covid-19. 

Conclusion-  

India and Nepal are good friends and you can start your export import business with export import consultancy services. Make sure you choose a profitable product for your business.   Apart from trade India and Nepal also share political and economic relationship. Indian government allocated Rs15.87 billion [IRs9.92 billion] to Nepal in its union budget for fiscal year 2021-22. India has pledged the second largest grant to Nepal among all countries in South Asia.  So, tighten your seat belt and start your export business to Nepal and give your export career a successful destination. For more join Digital Exim advanced export import course.   For more join our webinar. Click on the link given below.  https://chat.whatsapp.com/Bqz4SWH55nSGtKj3GnJAC8 Do Visit our Website! 

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