Manufacturing Industries in Nepal: Prospects and Challenges

This research paper is to represent the importance of the manufacturing industry in Nepal. The country has its major dependence of economy on the services sector as indicated by the figures of the GDP. This paper review is showing the prospects and challenges associated with the manufacturing industries of Nepal. The purpose of the study is highlighting the challenges for this critical part of the economy so that the decision making bodies have the clear idea for the betterment of the industry. And to find new areas for the new industrialists who join the industrial sector of the country. This will help the potential areas of growth to be prioritized and a speedy growth for the manufacturing sector will be possible. The design of the study was based on the model that previous researches were consulted and the gap was found. The gap is fulfilled by providing a critical analysis of the all the prospects and challenges which the manufacturing industry of the Nepal is facing. Products that have high demand in the country itself should be given the primary importance for establishing the new industry. Neighboring Indian market should fully use to sell all excessive products of the industry. The industry of the Nepal has to accommodate the labor of agricultural sector which contributes more than sixty percent of the population. The land locked borders of the Nepal are also a big challenge for the industries which are related with import and export products. Utilization of good relation with India will be very helpful for the industries of the country. Also people will have to prioritize the idea of purchasing the made in Nepal.