What Makes Nepal a Silent but Brilliant Economy?
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Nepal is always seen from the lens of the lesser self. Just like the ideas of colonialism deemed the white as the superior and the coloured as inferior or more popularly, the “other,” Nepal, too, has faced similar unequal treatment. One of the least developed economies in the world has the potential to overturn its economic fortunes only if its strengths are recognized in the right manner. It has seen the tides and the raging waves in the form of an earthquake, in 2015 that literally shook the nation and also political instability that has been synonymous with the country since a very long time. However, it is now time to put an end to all the misconceptions and pre-conceived notions one may have pertaining to the country and perceive the true aspect of reality.
Nepal’s location between the world’s two most powerful economies, India and China, can help all three benefit if the cards are played right. Nepal’s position as an adjoining neighbour between India and China can help in political, business and economic advancement.
Nepal having the influence of communism along with China can influence trade and provide ease of trade in transacting goods between India and China. Ease of trade is an important tool for all three countries to benefit economically and Nepal might just play the biggest role in the deal.
An Untapped Market
Nepal is a budding economy. It is still climbing the steps of development. Despite being endowed with many natural resources, the economy remains an untapped market. This is because of several reasons. The industrialization has not seen the light of the day in its fullest form because Nepal, still remains, largely, an agrarian economy wherein two-thirds of the population is dependent on agriculture. Years of political instability, too, has taken a toll on the market, which is marked by umpteen business opportunities especially in the arena of tourism, education, retail etc. Nepal has a lot of scope for growth, development and business inclusion. It’s time that investors from foreign shores start recognizing that!
It is true that Nepal is struggling on the lines of development but it is undergoing a transition. Growth is important no matter how slow it is. Small steps will definitely add to the pool of a revolution. The hydropower consumption remains untapped. What people and business insiders don’t know is the fact that this small subcontinent is actually a hub of untapped business opportunities. It has still not caught the eye of the robust business ecosystem but that shouldn't the business mariners from spotting this hub of jewels.
Nepal is definitely a reservoir of untapped opportunities. Definitely, investors and other market pundits are essentially required who can dig deep and mine some gold from the surface of Nepal.