A lot has been said and done on China-India issue, but there has hardly been any progress. However, the two nations are said to be coming together to help Nepal build its stranded economy.
In what could be perceived as good news for Nepal business market, the country is now building a new railway track to keep alive its economy. In a move to build an economy, Nepal is being helped by two of its most powerful neighbours India and its current rival China.
The good news comes after almost 3 years since its last train hit the buffers.
One of the towns which will benefit the most from this is Janakpur, where the railway system was used as a lifeline to import everything that fuelled the economy.
Once considered a lifeline, it soon fell into despair after being ignored for years. However, the train came to stand-still position in 2014, and since then it is a playground for all the children habiting nearby.
Rising like a phoenix from the ashes, the railway line is being rebuilt helped by India’s backing. Apart from this, two more railway lines are being set-up — one with help from China and the other by Nepal itself — aimed at boosting international trade practices.
Nepal, which is mostly dependent on aids and remittances, had been struggling with slow growth rate post 2015 earthquake, which destroyed most parts of Pokhra which was one of the biggest tourist destinations.
According to a report by World Bank, Nepal has one of the slowest growth rates in South Asia.
In recent times, Nepal had courted both of its neighbours for investment so that it could plug itself into a rail network with links in Far East of Asia with Europe.
Meanwhile, the Himalayas have played a huge role in keeping Nepal a litle more tilted towards India. Nepal shares a 1,400 kilometre open border with India and depends for most of its imports and exports.
Not lacking back, China has been ramping up its diplomatic ties with Nepal mostly through higher investments in infrastructure. Beijing vouched to invest $8.3 billion for Nepal’s development in comparison to India, $317 million.