PM Modi hosts Nepalese PM K P Sharma Oli at home for private talks

Prime Minister Narendra Modi on Friday played host to his Nepal counterpart, K P Sharma Oli, who arrived in New Delhi on a three-day visit.

Modi and Oli had an informal meeting at the Prime Minister's residence at Lok Kalyan Marg.

"Delighted to meet the Prime Minister of Nepal, Mr K P Sharma Oli," Modi posted on Twitter, along with pictures.

The two Prime Ministers will hold formal talks on Saturday.

Oli was received by Home Minister Rajnath Singh at the airport earlier in the day.

This is Oli's first visit to New Delhi after taking over as Prime Minister of Nepal for a second term on February 15. New Delhi is keen to see that the new government in Kathmandu led by Oli and backed by three left parties does not lead Nepal into a closer embrace with China.

His first term in office from October 2015 to August 2016 witnessed escalation of tension between New Delhi and Kathmandu over the new Constitution of the neighbouring nation.

India and Nepal are unlikely to ink any new agreement after the meeting between the two Prime Ministers on Saturday. Modi, however, might offer Oli a new credit line from India for development of infrastructure in Nepal.

"Nepal's political transformation is not just a transformation but a comprehensive social, economic, cultural change. We have institutionalised political transformation through our Constitution. It is now time for us to realise our next objective economic transformation," Oli said at a business meeting. He said that Nepal was now safe for foreign investment.