The Hindu : Karnataka / Bangalore News : Prachanda seeks cooperation of IT companies in Bangalore

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Thursday, Sep 18, 2008
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Prachanda seeks cooperation of IT companies in Bangalore

Special Correspondent

He wants India to help bring about an IT revolution in Nepal

Nepalese government ‘receptive’ to foreign investment
Prachanda plans radical changes in mechanism and method of investments

— Photo: V. Sreenivasa Murthy

TRADITIONAL WELCOME: The Prime Minister of Nepal, Prachanda, and his wife, Sita Dahal, arriving at a meeting in Bangalore on Wednesday.

Bangalore: The Prime Minister of Nepal, Prachanda, asked Indian companies — especially those based in Bangalore — to “help bring about an IT revolution in Nepal”. He said after the success of the democratic revolution in Nepal, it was time for an “economic revolution” in his country. He was addressing a luncheon meeting organised by the Confederation of Indian Industry in the city on Wednesday.

Mr. Prachanda said the new constitution and the recent declaration of Nepal as a Federal Democratic Republic had paved the way for the “peaceful transformation of the country, which is an example for the rest of the world”. He said his government was keenly interested in “developing institutions which would help in industrialising Nepal”.

Industrialisation

Mr. Prachanda said his government was keen to play the role of a “catalyst” in the industrial development of Nepal. “A business-friendly environment has been created in Nepal,” he said. Referring to the advantage of abundant water resources in his country, Mr. Prachanda said the government was encouraging multipurpose projects using water resources. Investments in such projects were welcome under Public Private Partnerships or as joint ventures, he said.

Foreign investment

Mr. Prachanda said his government was “receptive” to foreign investment. He called upon the private sector in both countries to “take advantage of this”. He talked of his government planning radical changes in the mechanism and method of investment. “A qualitative change has come about since we assumed office, which will expand education all over Nepal,” he added.

Asked what kind of restrictions would apply to foreign investments, Mr. Prachanda said, “A new situation needs to be created. Security sector reforms are being planned in Nepal, reflecting the new situation.

This will involve the reorganisation of the defence sector, which requires a comprehensive new policy. We are planning an overall review of our defence strategy and defence budget.”

Mr. Prachanda visited the headquarters of the Indian Space Research Organisation, Indian Institute of Science, Biocon and Infosys, during his visit to Bangalore.

Kush Kumar Joshi, President, Federation of Nepalese Chambers of Commerce and Industry, said the success of the private sector in Nepal is “inseparable from the overall industrial development of the country”.

He said: “The new government has been pragmatic, not a bunch of extremists as some had warned.” There was “a lot of confusion and doubt about what would happen if Prachanda’s party assumed office, but these have now receded,” he added.

Binoy Chaudhary, President, Confederation of Nepalese Industries, said the leadership of the new government had struggled for the last 12 years to “give Nepal a new sense of hope”.

He said: “A new economic revolution is in the making.” He pointed out that a small state-established IT park near Kathmandu has been empty, waiting for an experienced company to manage it. “Companies in Bangalore can contribute by providing training and guidance in the area of IT,” he added.

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