KATHMANDU: President Ramchandra Paudel underscored the crucial role of promoting small and cottage entrepreneurship to propel the nation towards industrial development.

Inaugurating the 17th International Industrial Trade Fair and Cottage Industry Festival, 2081 BS, President Paudel emphasized the government’s responsibility in fostering the growth of cottage and small industries.

Highlighting the foundational importance of small industries to the nation’s economy, President Paudel remarked, “Cottage and small industries have played a pivotal role in poverty alleviation, job creation, and economic sustainability.”

He stressed the necessity for collaborative efforts between the government and entrepreneurs to address key challenges such as access to capital, availability of raw materials, skilled resources, competitive proficiency, and effective marketing strategies.

President Paudel emphasized that small industries, utilizing local skills, technologies, raw materials, and human resources, could significantly enhance production and productivity while promoting local labor and culture internationally, thereby ensuring the economic sustainability of communities.

Acknowledging the hurdles faced by cottage and small industries in accessing capital, President Paudel urged the state to provide concessional loans and formulate policies and programs aimed at promoting such businesses.

Furthermore, he called attention to the importance of introducing and implementing special programs targeting micro, cottage, and small industries led by women.

President Paudel advocated for measures such as concessional loans, tax discounts, establishment of sales outlets, market guarantees for their products, and prioritized consumption of their goods.

President Paudel’s remarks underscored the critical need for state intervention and support to empower cottage and small industries, thereby fostering economic growth, job creation, and sustainable development in Nepal.

RSS