Nepal's gross domestic product (GDP) could reach Rs 13,100 billion (over $ 120 billion) in 2045, which is 39 percent more than with existing trading mechanisms, with accelerated power trade (APT) between India and Nepal, according to a report.The report, 'Economic Benefits from Nepal-India electricity Trade,' released on Thursday, also states that the growth in GDP is driven in part by the three-fold increase from Rs 310 billion in 2030 to Rs 1,069 billion in 2045 in revenue earned from electricity trade.
Highlighting the key findings of the report, Kirit Parikh, chairman of Integrated Research and Action for Development (IRADe), which conducted the study, said that the increased power trade will also fuel Nepal's per capita electricity demand to jump from the current 139 kWh / year to 1,500 kWh / year by 2045.
The report attributes it to increased domestic hydropower production that is 34.4 Gigawatt (Gw) in 2045. "Per capita electricity demand reflects strongly on the Human Development Index (HDI) of a country as increased access to electricity is directly linked to better quality of life , "it added.
The first of its kind study was conducted by the IRADe under the fourth phase of the South Asia Regional Initiative for Energy Integration (SARI / EI) Program. SARI / EI is a United States Agency for International Development's (USAID) program that works to promote cross-border electricity trade for revitalizing and accelerating regional economic development in South Asia.
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