Kathmandu: In a bid to curb the rising tide of illicit trade activities, the India-Nepal Inter-Governmental Subcommittee (IGSC) held a crucial meeting in Kathmandu from December 27 to 28. The two-day deliberations centered around collaborative efforts to strengthen controls on unauthorized trade, transportation, and cooperation between the two nations.
The IGSC, led by Vipul Bansal, Secretary at the Indian Ministry of Commerce, and Ramchandra Tiwari, Secretary at the Ministry of Industry, Commerce, and Supplies in Nepal, engaged in comprehensive discussions to address the pressing issue of illicit trade.
The meeting saw both sides strategizing on measures to intensify surveillance and control mechanisms, with a specific focus on pharmaceuticals and Ayurvedic products. Both nations expressed a collective commitment to implementing stringent measures to prevent the flow of counterfeit goods and unauthorized trade practices.
Recognizing the need for a coordinated approach, the delegations discussed joint initiatives to strengthen border controls and enhance information sharing. The emphasis was on leveraging technology and intelligence-sharing to identify and deter illegal trade activities effectively.
India and Nepal underscored the importance of fostering a secure and transparent trade environment. The IGSC discussed the implementation of joint initiatives to ensure the integrity of bilateral trade, instilling confidence in businesses and consumers alike.
The outcomes of this meeting reflect a shared determination to combat illicit trade practices head-on. Both nations have committed to concrete steps that not only address the current challenges but also lay the groundwork for a secure and mutually beneficial trade relationship.
This collaborative effort signifies a united front against illicit trade, demonstrating the resolve of India and Nepal to safeguard their economies and ensure the legality and authenticity of cross-border transactions. The IGSC’s commitment to tackling this issue head-on is expected to set a precedent for international cooperation in combating unlawful trade practices.
