Investment in innovation and research must be increased: NCC president

KATHMANDU: Nepal Chamber of Commerce (NCC) President Kamlesh Kumar Agrawal has said investment in innovation, research and cutting-edge technology must be increased to move Nepal towards a knowledge-based economy.

Speaking as a special guest at the inauguration of Innovation Fest 2026, organised by Sunway College, NCC President Agrawal said the world has entered the era of the Fourth Industrial Revolution. He said artificial intelligence, robotics, drone technology, big data, the Internet of Things, blockchain, quantum computing and biotechnology are transforming the structure of the global economy and industry.

Agrawal said artificial intelligence is creating new possibilities in education, healthcare, agriculture, banking, insurance, tourism, public service, manufacturing and trade, and emphasised that its application must keep transparency, privacy, ethics and human welfare at the centre. He added that technology should be developed to empower humans rather than replace them.

He said robotics plays a crucial role in industrial production, healthcare, automation, hazardous work and disaster management, and that, given Nepal’s geographical conditions, drone technology can be widely utilised in agriculture, forest conservation, land mapping, infrastructure inspection, disaster rescue, medicine transport and tourism promotion.

The NCC president warned that innovation is impossible without research and called for institutionalised collaboration among universities, research institutions, the private sector and the government. He said research must be linked with industry, the market and society rather than confined to laboratories, and that innovation should be encouraged through startups, incubation centres, accelerators, venture capital and effective protection of intellectual property rights.

Urging young people to adopt an entrepreneurial mindset focused on creating jobs rather than merely seeking them, he said creativity, problem-solving, digital skills, leadership and continuous learning will be the foundations of future success. Agrawal said the NCC remains committed to building a technology-friendly economy, digital transformation, startup promotion, industry-academic collaboration and research-based enterprise development, and he urged the government to implement the national AI policy, increase investment in research and development, provide tax and financial incentives to startups, strengthen digital infrastructure, cybersecurity and data protection, and expand access to technology for women and marginalised communities.

Agrawal called the fest not merely an exhibition but a shared platform for shaping Nepal’s future, stating that collaboration among all stakeholders is essential to build a prosperous Nepal through development based on research, innovation and technology.