Wed, July 17, 2024

Prez Paudel inaugurates 17th Int'l Industrial Trade Fair, Cottage Industry Festival

B360 May 8, 2024, 5:51 pm
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  • Prez Paudel calls for increased support for small and cottage Industries

KATHMANDU: President Ramchandra Paudel inaugurated the 17th International Industrial Trade Fair and Cottage Industry Festival, 2081 in Kathmandu today.

Addressing the inauguration ceremony, President Paudel emphasised the importance of promoting small and cottage entrepreneurship to guide the country towards a phase of industrial development.  

The Head of State expressed his wish for the government to assume responsibility for promoting cottage and small industries. 

The President stated that small industries form the backbone of the nation's economy, adding, "Cottage and small industries have contributed to poverty alleviation, job creation, and economic sustainability."  

He voiced the opinion that the government and entrepreneurs should work together to promote such businesses by addressing issues such as capital, availability of raw materials and skilled resources, competitive proficiency, and marketing, among others. 

At the event organised by the Federation of Nepali Cottage and Small Industries, the President said small industries can significantly contribute to increasing production and productivity by utilising local skills, technologies, raw materials, and human resources. He expressed his belief that such industries could act as a tool to promote local labour and culture internationally by achieving the community's economic sustainability.  

He noted that cottage and small industries are hindered by their limited access to capital, and stressed that the State must ensure concessional loans for small and cottage entrepreneurship and develop policies and programmes aimed at promoting such businesses. 

He also drew the government's attention to the need to introduce and implement special programmes targeting micro, cottage, and small industries operated by women.  

According to the President, the provision of a concessional loan and a tax discount for small enterprises led by women and youths, the establishment of sales outlets, the market guarantee for their products, and the priority to consume such products are essential.


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JUNE 2024

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