The Vital Role of Nepali Product Wholesale and Export in Economic Growth
Nepal being a country having vast cultural background and endowed with natural resources the wholesale and export sector is gradually increasing and is a significant contributor to the growth of Nepalese economy. In the case of wholesale and export of Nepali products, this not only has the essence of markets but is one of the most vital facets of economic growth, business success, and the prosperity of any nation in the globalized environment of today. Now, it is worth exploring as to why wholesale and export of Nepali products is so critical for Nepalese economy and how it assists time come to realize the full potential of Nepali products.
1. Economic Growth and Development
Agriculture, handmade products, textiles, and much more remain some of the primary income generating activities in Nepal’s economy. Activities related to Wholesales and exports help Nepali companies to penetrate other markets hence acting as a source of foreign exchange. This brings about the enhancement of the national economy, better trade balances, as well as the generating employment. Thus, linking and expanding into the international markets are crucial ways for increasing Nepali products’ proportion in GDP to make the Nepalese economy more stable.
2. Expansion of Business Opportunities
In the case of Nepali businesses, wholesale and export channel also provide opportunities in terms of new customers and new stores. This growth also goes hand in hand with sales, but above it, it strengthens brand image on the global level. Thus, Nepali businesses, including small scale manufacturers as well as exporters, can benefit from global demand to expand their business and invest in modern technological equipments to enhance the quality of their products.
3. Realizing the True Value of Nepali Products
Understanding the true value of Nepali products, The issues raised in this paper are crucial to Nepali industries since they will determine the true value of their products. The Nepali products have their specialties in terms of the work on them and their quality and mostly, they are priced comparatively higher in the global markets. Thus, this value is highly relevant by exporting it to the Nepali products, so that the external world can recognize and appreciate it. For example, items made from local traditional motives, Pashmina, and superior quality leather products are famous in the world. Thus, exporting these products will help Nepal to show their real value, and producers and weavers will be paid a deserved amount.
4. Promoting Local Industries
Wholesale and export sectors are helpful for the local industries since they create a demand for materials and final products. This, consequently, has a positive impact on developing local economies and the development of SMEs. These industries contribute to development and improvement of infrastructure in the region, an improvement of services rendered, as well as growth of the economy of the area.
5. Enhancing Quality and Innovation
Foreign market competition also helps to check Nepali business on quality issues and challenges them to reinvent themselves always. Preparations are made to meet internationally acceptable level of quality and Nepali manufacturers’ invest in better technologies, refine their processes and diversify their products. Essentially, this commitment to quality and innovation gives more than just to the global market and contributes to raising the overall bar of Nepali products.
6. Strengthening International Relations
Export activities that are followed successfully assist in the international business relationships that Nepal develops. Negotiating long term relations with the foreign parties, Nepal also can create the base for establishing its reliable supplier status of good quality products in the foreign countries. They can help in having better trade relations, FDI, joint projects and other cooperative undertakings between Nepal and the partner countries.
Exportable Products of Nepal
Agricultural Products:
Tea: Nepal grows good black and green teas that are known to have rich and exotic flavoured and aromatic taste.
Coffee: Nowadays, cuisines that are made from Nepali coffee are becoming popular because of their distinguished fine quality taste.
Cardamom: This spice which grows in the hilly tract of Nepal is very much in demand in the export market.
Turmeric: Being a source of many medicinal values and being famous for its bright orange color, Nepali turmeric is famous all over the world.
Ginger: Nepali ginger is more flavoured type and is available with varieties of uses in the kitchen as well as in medical field.
Handicrafts:
Pashmina Shawls: Pashmina shawls are luxuriously warm and are a perfect example of Nepali work and fabrics.
Tibetan Rugs: Using age old methods of hand weaving these rugs are appreciated for their exceptional designs.
Metalcraft: Including statues made of metal including brass and copper, metal bowls, other metal decorative items.
Wood Carvings: They also painted wooden sculpture and other wooden gadgets that are really makers of Nepalese art.
Thangka Paintings: Religious trails and art works that portray various gods and symbols on the religious front.
Textiles and Leather Products:
Nepali Woolen Products: The products listed include sweaters, socks, and hats that are developed from the local produced wool.
Leather Bags: Leather bags/ accessories, men/women accessories, handbags, travel/ laptop bags, wallet/ card holder, belts, shoes & sandals etc.
Conclusion
The wholesale and export are the most important for the economic growth and development of Nepal. Going global brings a firm greater economies of scale, a wider access to input resources, technology, capital, skills and labour as well as business viability and prospects to learn faster than your competitors. Thus, with the increasing presence in the world economy competition in terms of quality and global competitiveness becomes more important which in turn will ensure economic growth and prosperity for an economy.
