08 April, 2018
He said his country always accorded "great importance" to its ties with India as the two neighbours have many "things to offer each other".
The plan to develop inland waterways would give landlocked Nepal much-needed access to sea, boosting its exports.
He stated that his government attaches high importance to further strengthening friendly relations with India.
Indian sources said similar terms could be applied to Nepal, but on the condition that Indian public sector or private companies be involved in building dams in Nepal.
Mr. Oli's visit to India is the first after he assumed office as the Prime Minister following elections in the Himalayan state.
"Inter-dependence takes many forms between our countries".
"Amity with all and enmity with none is our motto in foreign policy". The two countries have recently also signed a transit treaty.
Modi then said that India and Nepal will work together to stop misuse of the open border the two neighbours share.
Acknowledging India's continued support to Nepal, Oli said, "We want to erect a strong edifice of trust-based relationship between the two close neighbours that we are".
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Oli and his wife Radika Shakya who are on a three-day visit to India paid tributes to Mahatma Gandhi at Rajghat, before driving to the President's house.
The senior government official said India would unroll the red carpet for Oli and his 53-member delegation during their three-day visit, but he would also hear about Delhi's "red lines", especially in the energy and security sectors.
The OBOR is a massive infrastructure project that aims to link Asia and the European markets through a maze of rail, road and shipping networks.
India has opposed the CPEC as it runs through Pakistan-occupied Kashmir (PoK). The Madhesis say the new Constitution is discriminatory to their interests.
India will build a strategic railway link between Raxaul in Bihar and Kathmandu in Nepal to facilitate people-to-people contact and bulk movement of goods. The months-long blockade had led to souring of the ties between the two countries. He also extended an invitation to Prime Minister Modi to pay an early visit to Nepal, which Modi accepted. "Today, we reviewed the progress in various such connectivity projects", he said.
Trying to reset bilateral ties, Prime Minister Narendra Modi and his Nepalese counterpart K.P. Sharma Oli on Saturday held wide-ranging talks and agreed to step up two-way engagement in key areas of defence and security, connectivity, trade and agriculture. Nepal's fuel import bill is said to have trebled in the last five years. So, we want to take the opportunity to walk together with both of our neighbours. Gokhale, however, denied that China was discussed during the meeting between the two leaders, and maintained that bilateral relations was the focus of the conversation. In their joint statement, Prime Minister Narendra Modi and PM Oli underlined the, "need for expeditious implementation of bilateral projects in Nepal and to reinvigorate the existing bilateral mechanisms to promote cooperative agenda across diverse spheres".
Oli lauded India's timely assistance in the financial and infrastructural development of Nepal.
This is unedited, unformatted feed from the Press Trust of India wire.