India, Nepal ink 4 key pacts to boost trade ties and improve connectivity

India and Nepal on Thursday signed four agreements, including on long-term power trade and the launch of a satellite, as external affairs minister S Jaishankar and his Nepalese counterpart Narayan Prakash Saud explored ways to bolster cooperation in areas ranging from connectivity to trade.

Jaishankar, on his first foreign visit of the new year, and Saud co-chaired a meeting of the India-Nepal joint commission that reviewed the overall bilateral relationship and trade and economic ties. The meeting also discussed land, rail and air connectivity projects and cooperation in defence, security, agriculture, energy and water resources, Jaishankar said in a post on X.

The two sides signed four agreements, including one between the two governments on long-term power trade.

During Nepal Prime Minister Pushpa Kamal Dahal's visit to New Delhi in June 2023, the two sides had agreed that India will ramp up the purchase of hydropower from Nepal to 10,000 MW within the next 10 years.