Yezdi Nagporewalla is the chief executive officer of KPMG in India, a global network of professional firms providing audit, tax and advisory services. With over 25 years of professional services experience, Yezdi has successfully led some of the largest and most complex accounts for the firm, globally and in India. Yezdi has a sound understanding of governance and regulatory matters and is a member of the Global Board and EMA Board of KPMG International. He is also a member of the CII Corporate Governance Council, a member of the AIMA Council of Management, and is on the US-India Strategic Partnership Forum’s India Executive Leadership Board. Yezdi brings a deep understanding of the firm’s opportunities and businesses across its spectrum of offerings. Respected globally for his proven track record in serving clients undergoing complex change, Yezdi’s core expertise includes helping the large conglomerates scale up, across developed and emerging markets. To make Nepal an investment destination, the government is organising the 3rd Nepal Investment Summit on April 28–29 in Kathmandu. In an email interview with the Post, Yezdi discusses Nepal’s investment climate and the upcoming investment summit. Excerpts:

Is Nepal an attractive destination for foreign investors? How do you assess Nepal’s market?

Nepal is an attractive destination for foreign investors, particularly in areas like infrastructure development, renewable energy, green hydrogen, hydropower, tourism, agri-business, manufacturing, and information and communication technology. Accessing any new market typically involves understanding the regulatory environment and local business practices, establishing local partnerships, and complying with legal requirements for investment. For Nepal, seeking guidance from organisations like the Investment Board Nepal can help streamline the process and provide valuable insights into investment opportunities.

Nepal has announced its third investment summit in April. How is the KPMG supporting this initiative?

KPMG in India has a track record of supporting government agencies in India on investment promotion programmes, business reforms and investment summits. Last month, a workshop on ‘Unlocking Nepal’s Investment Potential’ was organised by the KPMG in India, along with the Investment Board Nepal in Kathmandu. This was a precursor to the proposed summit in April. The focus was on promoting private investments, particularly foreign direct investment (FDI), to unlock the country's full potential. The government's efforts in reviewing policies for a favourable investment climate, along with subsequent pre-events and follow-ups, aim to attract investors for Nepal's sustainable growth. We will be happy to advise the government of Nepal for the Nepal Investment Summit.

The summit is being organised at a time when the country faces an economic slowdown, rising unemployment and political instability. What kind of strategies should Nepal adopt to attract investors?

To foster economic expansion and enhance investment potential in Nepal, a comprehensive strategy should focus on strengthening the policy environment, infrastructure development, regulatory reforms, ensuring ease of doing business, and targeted sector-specific investment promotion. Strengthening key sectors like tourism, technology, renewable energy, green hydrogen, and manufacturing can also play a pivotal role in attracting investors and fostering sustainable economic growth. Additionally, building a business-friendly environment, easing process friction, and encouraging innovation will further contribute to creating an attractive investment climate in Nepal.

What are the areas of investment in Nepal that Indian investors are currently looking for? What is the perception of Indian investors towards Nepal? What kind of environment and policies are they looking for?

There are several areas where India could increase investment in Nepal, particularly in areas of synergies and leveraging learnings from each other in ease of doing business (EODB), managing large programmes, and infrastructural development through public-private partnerships. By fostering collaboration in key sectors such as renewable energy, green hydrogen, manufacturing, digital public infrastructure, technology centres, agriculture, and tourism infrastructure and services, both nations could drive mutual growth and development.