Nepal, Oct. 8 -- The Nepal-India Chamber of Commerce & Industry (NICCI) on Wednesday apprised Finance Minister Rameshwor Khanal of the likely impacts of India's recent Goods and Services Tax (GST) revision on Nepal's manufacturing sector, while also raising concerns over the suspension of Initial Public Offerings (IPOs) and long-standing issues related to foreign direct investment (FDI).

During a courtesy call at the Finance Ministry in Singha Durbar, a delegation led by NICCI Officiating President Kunal Kayal expressed worries that the GST revisions approved by India's 56th GST Council-effective from September 22-could significantly disadvantage Nepali industries. The new rates, which re-base maximum retail prices (MRPs) across several ...