President Paudel Emphasizes Support for Small and Cottage Industries at Trade Fair

President Ramchandra Paudel has advocated for heightened support for small and cottage industries, calling them pivotal for Nepal’s industrial advancement. Speaking at the opening of the 17th International Industrial Trade Fair and Cottage Industry Festival, President Paudel highlighted the crucial role these industries play in the nation’s economy.

Addressing the gathering organized by the Federation of Nepali Cottage and Small Industries, the President stressed the significant contributions of small enterprises in reducing poverty, creating jobs, and ensuring economic sustainability. He pointed out the necessity for government and entrepreneurs to collaborate closely to resolve challenges such as access to capital, raw materials, skilled labor, and marketing.

President Paudel urged the government to facilitate easier access to funding and introduce specific policies and programs aimed at bolstering these businesses, particularly those led by women. He proposed the provision of concessional loans, tax benefits, dedicated sales outlets, and a market guarantee for products from small and cottage industries.

The President also emphasized the importance of using local skills, technologies, and resources to enhance production and productivity, which he believes can help promote local labor and culture on an international scale.

The call for action includes implementing special programs targeting micro, cottage, and small industries, enhancing their competitive edge and economic viability. The trade fair continues to serve as a platform for stakeholders to converge and discuss forward-moving strategies for these sectors.