Kathmandu: Minister for Industry, Commerce, and Supplies, Damodar Bhandari, has emphasized that the Pashmina industry is a key symbol of Nepal's identity. Speaking at the inauguration of the first three-day International-Level Pashmina Festival and Exhibition organized by the Nepal Pashmina Industries Association, Minister Bhandari highlighted the global recognition Nepali Pashmina has achieved, competing with major players like China and Mongolia.

"Nepali Pashmina holds a strong market presence in countries like the US, Japan, and Europe. However, ensuring a consistent supply of raw materials remains a challenge that requires policy-level improvements. The government is actively addressing this," he stated.

The Minister also underscored the importance of revitalizing Nepal's stagnant industrial sector, mentioning ongoing efforts to reform laws that hinder industry, commerce, and exports. Additionally, he announced the creation of a separate fund aimed at supporting small and medium-sized enterprises.

"We are focusing on strategies to expand the market for Nepali products, promoting economic growth through trade and exports. A national campaign to encourage the use of domestic products is essential," Minister Bhandari added.

Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President Chandra Dhakal stressed the importance of collaboration between the government and the private sector to enhance the domestic and international market for Nepali goods. He assured FNCCI's commitment to supporting the promotion of high-quality Nepali products.

EU Ambassador to Nepal, Veronique Lorenzo, and other notable attendees, including Confederation of Nepalese Industries President Rajesh Agrawal and Nepal Pashmina Industries Association President Dhan Prasad Lamichhane, echoed the need to address challenges in Pashmina export and trade expansion.

The event aims to boost the global appeal of Nepali Pashmina, addressing challenges in supply, production, and trade while reinforcing the country’s position in the international market.