3 Current situation

Despite various efforts conducted in the past for industrial development, the reality is that industrialization in the country has not reached the expected speed. The fact that the contribution of the industrial sector to the total domestic product has not even reached 10 percent stands as a challenge before us. The country's economy is still highly dependent on traditional agricultural systems and remittances. Although there is ample potential for industrial development in the country, due to the lack of appropriate management capacity, the existing resources, means and possibilities have not been properly exploited. Due to this, the nation is facing various problems such as the wasting of available raw resources and resources, the problem of severe unemployment and semi-unemployment has arisen, and the existing labor force in the country is forced to go to foreign jobs at low wages. Meanwhile, Nepal has also become a member of the World Trade Organization and its affiliation with the world market has expanded. Due to the rapid industrialization and competition in the neighboring countries, Nepali industries have to assess the global competition and show increased productivity and business efficiency. Similarly, Nepali industries have to make more efforts in quality assurance, transparency in business transactions and regular study and grasp of the market. Since there is no environment to protect the industry from the government level, there is a need to promote Nepali industries through training, information exchange, creation of an investment-friendly environment, industrial fairs, etc. through various industrial promotion activities. For that, it is expected that the implementation of this policy, which has been issued with timely changes to the existing policy, will lead to the establishment of large industries in the country, increase in employment, extensive development of small enterprises, domestic and small industries, increase in self-employment, utilization of Nepalese labor and skills, and speed up industrial development in the country.< /p>