SME Promotion Crucial for Economic Revolution, Says FNCCI Senior Vice President

Kathmandu . Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Senior Vice President Surendra Krishna Vaidya has stated that economic revolution in the country is impossible without the promotion and development of small and medium enterprises. 

During a meeting with officials of the Federation of Small and Cottage Industries, he mentioned that the management of small industries and industrial revolution are essential conditions for the country's economic prosperity. 

Senior Vice President Vaidya praised the work being done by the Federation of Small and Cottage Industries up to the district level and emphasized that the government should directly address this sector. He expressed his commitment, as the Senior Vice President of the Federation, to move forward by including commodity associations, district-city chambers of commerce, and small and medium entrepreneurs in the coming days. He stated that the active participation of members of commodity associations, in particular, plays an important role in making the Federation dynamic. He commented on the effectiveness of government budgets and training programs, stating that the currently running skill-based programs do not reach the target groups. Although economic, skill-based, and income-generating training programs are being conducted under the leadership of local governments targeting women, youth, and farmers, he proposed that their technical coordination and implementation should be done through the umbrella organizations of the private sector. Vaidya said that only by conducting district-level training in coordination between the Federation of Nepalese Chambers of Commerce and Industry and the Federation of Small and Cottage Industries will real entrepreneurs get opportunities and employment be created after training. He also informed that both federations plan to form a joint committee and coordinate effectively with the government in the coming days.

Expressing his views during the meeting, Senior Vice President Vaidya said, ‘What we say is that in Nepal, unless small and medium enterprises are promoted, unless small industries are managed, and unless there is an industrial revolution for small entrepreneurs, an economic revolution in the country is not possible, which everyone clearly understands. However, this issue has not been effectively addressed at all levels. All of you who are working hard, I am constantly watching. Friends from the center to the districts, especially friends from the Federation of Small and Cottage Industries, are working very actively every day. In fact, we see you working harder than the District Chambers of Commerce. However, we have been continuously raising the issue that the government must directly address this matter.’ 

On the same occasion, Federation of Small and Cottage Industries Chairman Umesh Prasad Singh stated that the private sector can discourage potential government intervention and pressure only if it is strong. He mentioned that the government tries to suppress when the private sector is weak and emphasized that industrialists and entrepreneurs must be organized and strong. Chairman Singh stated that functional unity and mutual goodwill among the four major private sector organizations – the Federation of Small and Cottage Industries, the Federation of Nepalese Chambers of Commerce and Industry, the Confederation of Nepalese Industries (CNI), and the Nepal Chamber of Commerce – are indispensable. 

He expressed his belief that the tradition of welcoming and cooperating with each other at the leadership level will make these organizations more vibrant. He also expressed his commitment to further strengthen the relationship and cooperation with FNCCI President Anjan Shrestha and other officials in the coming days.

Sharing his views among the business community, Chairman Singh said, ‘If we become weak, the private sector also becomes weak. If the private sector becomes weak, the government will also try to suppress us from time to time. But if we become strong, we can challenge the government when needed. As representatives of industrialists and the private sector, we must also issue warnings and alerts saying, “If you try to move forward by ignoring the private sector, there may be difficulties.”’