"My job will be to keep the special relationship between the two countries intact and help it grow further," 72-year-old Rana said.
Noting that there are vast opportunities for the two countries in the economic sector, he said he would facilitate investors to explore them.
"There are private investors in India who want to make investment in Nepal, and for that we have to create favourable environment at home," said Rana, who will be heading to Delhi towards the end of November to assume his new responsibility.
Over a decade ago, there were 15 Indian joint ventures operating in Nepal which have now been reduced to 11, mainly due to security reasons, he said. "I will try to bring more investment from India now."
"We need to provide more facilities such as concession in tax and enhanced security in order to attract more investment from private sectors of India," he said on the sidelines of a function organised by Nepal-India Friendship Society.
"I have spent more than 30-40 years in India on different occasions, so I know India better than any one else and I think I can do lot of things to strengthen the bilateral ties," Rana, son of veteran democratic leader Suvarna Shumsher, said.
However, the bilateral ties are guided by "some compulsions", Rana said, adding that due to a long open border, "India has some compulsions, regarding their security which we must understand."
"We need to be sensitive towards that. We also have some compulsions, which India should understand," he said. "True friends should understand each other's problems."
"I will also pay attention to developing relationship between the two countries in the field of sports and try to develop tourism by building partnership," he said.
Rana, who had also served as chairman of Nepal Olympic Committee and member secretary at the Nepal Sports Council, said Nepalese athletes can benefit if they get training from Indian players.
"I will also try to bring some help from India to build infrastructure in the field of sports."
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