National Dissemination Conference on IT Sector Growth in Nepal
Dr. Biswash Gauchan announced the launch of Structural Reform 2.0, a second-generation economic reform initiative for Nepal that will focus on two key pillars: digitalization and education reform. He highlighted that Nepal must tap into the global digital economy by transforming its education system and creating a skilled workforce. He also stated that Nepal must invest in infrastructure and create a business-friendly environment to attract foreign investment. Dr. Gauchan called for active support from all stakeholders, including political establishments, bureaucracy, private sector, international community, and academia. He concluded that Structural Reform 2.0 is a national imperative and that everyone must play their part to make it a success.
Dr. Amrita Sharma, lead consultant for the project, shared the findings of the study. She stated that the IT sector is a major contributor to the economy, generating $30 million in tax revenue for the government. The study involved 86 companies, 389 freelancers, and 137 tech industry stakeholders. The IT industry is worth more than half a billion dollars and accounted for 1.4% of Nepal's GDP and 5.5% of foreign exchange reserves in 2022. Dr. Sharma also acknowledged the limitations of the IT sector, such as gender disparity, skill gaps, and outdated infrastructure. She said that the adoption of the Triple Helix model is the way to address these limitations and drive human capital development. She concluded by saying that the IT sector has the potential to transform Nepal's economy.