In a bid to enhance trade, investment, and 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 entered into a strategic partnership.
NICCI President Sunil KC and FICCI Director General Jyoti Vij signed a memorandum of understanding (MoU) to this effect during a formal ceremony in New Delhi on Friday.
As per the agreement, the two organizations will jointly work to promote bilateral trade, cross-border business, and investment. The partnership also marks the beginning of a new initiative titled "NICCI-FICCI Track 1.5," which will facilitate dialogue and cooperation between the private and public sectors of both countries.
As part of the understanding, NICCI and FICCI have agreed to hold regular bilateral business delegations and exchange non-confidential information, statistics, and trade-related publications. Both organizations also committed to hosting at least one major joint event every year.
According to the agreement, NICCI will serve as FICCI’s special partner for Nepal, while FICCI will act as NICCI’s special partner for India—formalizing a long-term institutional partnership.
Following the signing, NICCI President KC said the agreement would support direct dialogue between businesses of both countries, promote joint research and market surveys, and identify new economic opportunities. He also expressed hope that the collaboration could expand beyond bilateral relations to include regional engagement.
FICCI Director General Vij emphasized the joint responsibility of both organizations in strengthening economic ties between Nepal and India. She expressed confidence that the partnership would play a key role in promoting investment, policy reform, and industrial growth.
President KC further noted that the “NICCI–FICCI Track 1.5” initiative would include participation from both the private sector and government representatives. The initiative is expected to foster policy dialogue, boost investment promotion, and help realize Nepal’s growing aspirations to attract foreign investment.
The partnership is seen as a step toward institutionalizing the long-standing economic interdependence between Nepal and India and elevating it to a new level. Both organizations have pledged close cooperation to address cross-border trade challenges and harness emerging opportunities.
Beyond Nepal and India, NICCI and FICCI have also agreed to collaborate in regional platforms including BBIN (Bangladesh, Bhutan, India, Nepal) and BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation). The focus will include new initiatives in regional trade, transit, energy, and infrastructure development.
FICCI, founded in 1927 on the advice of Mahatma Gandhi, is India’s oldest and one of the most influential business organizations, representing over 250,000 public and private sector companies. It plays a leading role in policy advocacy, innovation, economic growth, and international investment promotion.
NICCI, established in 1993 by Prabhakar SJB Rana, is a non-profit bilateral institution that works to promote trade and investment between Nepal and India. It facilitates strategic partnerships, policy dialogue, market research, and collaboration in sectors such as infrastructure, energy, and tourism.
