The Government of Nepal is set to honor leading contributors to the country’s foreign currency earnings, including exporters, tourism operators, remittance facilitators, and startup founders, with the prestigious "Commercially Important Person" (CIP) designation on Wednesday.

According to an announcement made by the Ministry of Industry, Commerce, and Supplies, the decision to confer the CIP honors was made during ministerial-level meetings held on May 8 and July 10. The awards aim to recognize individuals and institutions that made significant contributions in fiscal years 2022/23 and 2023/24.

Companies that exported goods worth at least Rs 1 billion to third countries during the specified fiscal years will be eligible for CIP recognition. Among those selected are The Shangrila Carpet and Handicraft Industries Pvt. Ltd., Everest Fashion, and Triveni Spinning Mills Ltd.

In addition, presidents of commodity-specific business associations that facilitated exports exceeding Rs 5 billion to third countries during the same period will receive honorary CIP recognition. These include the Nepal Chhurpi Entrepreneurs Association, Nepal Carpet Manufacturers and Exporters Association, Nepal Garment Association, and Nepal Woolen Felt Producers and Exporters Association.

Similarly, presidents of national trade federations that oversaw aggregate exports of over Rs 5 billion to third countries will also be honored. This includes the Federation of Handicraft Associations of Nepal and the Exporters Association of Nepal.

Startups formally registered with designated agencies and falling under the definition outlined in Nepal’s National Startup Enterprise Policy 2080 are also eligible for the CIP title, provided they exported goods or services worth at least Rs 40 million during the review period. For women-led startups, the threshold is Rs 20 million. Mindful Craft Pvt. Ltd. has been selected from this category.

The ministry also noted that several exporters selected on May 8 will be honored, including top performers by export volume to third countries and leading exporters in five product categories. These are Bird Eye International (wool carpets), Nepal Fashion Pvt. Ltd. (ready-made garments), National Exports Pvt. Ltd. (woolen felt products), Manram Himalayan Handicraft Pvt. Ltd. (chhurpi), and Tricot Industries Pvt. Ltd. (pashmina goods).