Nepali TEXTILE Industry at a Glance

  1 min 26 sec to read
 Nepali TEXTILE Industry at a Glance

Textile industry is one of the oldest industries in the world. In ancient times, this industry was limited to weaving of natural fibers derived from animals and plants. With the advances in science and technology, mineral-based textiles and synthetics have emerged as important domains of the global textile industry.

Textile business in Nepal has witnessed encouraging trend over the last 12 years registering an average annual growth of 13.99 percent in imports and 2.69 percent in exports.

An industry with around Rs 100 Billion worth of transactions should not be overlooked. Emphasis should be given to strengthen the foundation of the country’s textile industry. Similarly, priority should be given to the ancillary industries of the textile sector.

The data presented here show a bright future of the Nepali textile industry. The gap in import and export shows opportunity for import substitution of textiles in the Nepali market. Similarly, scope for increasing exports is also clearly visible. Tax waivers, incentives and subsidies to producers, support in innovation, creation and technological upgrade need to be considered as measures to boost domestic production. Likewise, focusing on promotional and skill development
activities will help to realise the potentials. Along with enhancing traditional production of textiles, due focus should be given to develop textiles industry based on new technologies as well.

No comments yet. Be the first one to comment.