<figure><img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221108101136/636a23349c7e80680e0417d4jpeg.jpg" alt="" width="800" height="1067"/><figcaption>Sewa Bhattarai</figcaption></figure>Bodhisattva gallery has been active in documenting and preserving Kathmandu Valley’s traditional art, and is now back with its first exhibition after the 2015 earthquake. Jewels of Newar Art contains stunning paintings in the Paubha style, and sculptures made from the lost wax method.The exhibition features detailed portraits of Hindu and Buddhist deities including the Green Tara, White Tara, Manjushree, and Avalokiteswar. While most of them follow techniques for devotional paubha paintings, including using natural colours and painting deities according to classical specifications, we can also see many improvisations.One such work depicts deities in a wall apparently damaged by the earthquake. Others break away from traditional formats of the principal deity in the centre, and show gods in new, contemporary compositions. The exhibition shows us not just how rich Newar art is, but also how it is evolving in the hands of contemporary painters whose motif is art and not religion.Read also: <a href="https://archive.nepalitimes.com/article/Nepali-Times-Buzz/Buzz-the-art,671" target="_blank" rel="noopener">The art of the gods</a>, Tsering Dolker GurungFor centuries Kathmandu has been famous for such ritual artwork, prized for aesthetic beauty and attention to detail. Everything about the deities, from their complexion to their poses, is replete with many layers of meanings: for example the Green Tara’s green complexion symbolises compassion. While these paintings and statues are valued by Kathmandu’s Newar community for worships, a layperson also finds lot to admire in these works.Coveted by art lovers all over the world, stolen and pillaged, many of Nepal’s antiques now reside in museums around the world. However, it comes as a surprise to many to learn that the art forms are well and alive in Kathmandu. The exhibition at Bodhisattva attempts to bring such contemporary artworks to viewers’ notice.“Many believe the art is dead and can now be seen only in museums, but in fact Kathmandu continues to produce world-class artwork of great value,” says Anjana Shakya of the Bodhisattva Art Gallery. “The art was dying at one time because the artists did not make money, and the only way to ensure its continuity is to make sure that the artists can access the right market. We aim to promote the artists by connecting them to national and international buyers who are interested.”Read also: <a href="http://archive.nepalitimes.com/blogs/mycity/2015/12/23/from-wax-to-copper/" target="_blank" rel="noopener">From wax to copper</a>, Gopen RaiIndeed the gallery calls its exhibits ‘museum quality’, and they sell for anything up to Rs 3.5 million.  Three of the pieces will be showcased in Vienna in April in an exhibition of Nepal’s finest contemporary art. The exhibition at the Bodhisattva is an opportunity to appreciate home-grown art that may soon end up in famous museums around the world.Jewels of Newar ArtBodhisattva Art Gallery, KopundoleUntil 2 February

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New Newa art

<figure><img width="1500" height="1125" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221107171132/636933799c7e80680e03df9fjpeg.jpg" alt=""/><figcaption>Yuntai or Cloud Platform, located at the base of the Great Wall's Juyongguan section. Photos: SEWA BHATTARAI</figcaption></figure>The Great Wall of China is one of the world’s most famous landmarks, but what is less well known is the historical link between this World Heritage Site to another one 4,000km to the south in Kathmandu Valley. Here on the white marble Cloud Platform of the Juyongguan Section of the Great Wall 60km from Beijing, visitors come across ancient Buddhist inscriptions that tell the story of the influence of Nepal on the Yuan dynasty in the 13thcentury.At the base of the Great Wall is an arch built in 1345 and inscribed with Buddhist sutras in six languages: Mandarin, Tibetan, Uyghur, Mongolian, Tangut and Sanskrit. Kublai Khan and his descendants had to pass under the script of the Buddhist scriptures when they visited nearby temples.What is surprising is that the Sanskrit lines inside the arch are not in the usual Devanagari letters, but in the Ranjana script that originated in Kathmandu Valley.   <figure><img width="2592" height="1944" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221107171132/6369337d9c7e80680e03dfa0jpeg.jpg" alt=""><figcaption> </figcaption></figure>Ranjana is called ‘Lanzha’ in Mandarin, and can be found in religious monuments across Tibet and China, having travelled with the spread of Mahayana Buddhism, whose main texts including the Pragya Paramita are written in Ranjana. Many sects of Buddhism had already spread to China through Central and South Asia more than 2,000 years ago, but they were overlaid by Mahayana Buddhism after Princess Bhrikuti took the sect to Tibet in the 7th century from Kathmandu Valley. The practice of inscribing Buddhist scriptures in a distinctive Nepali style have been documented from this time. Cultural historian Satya Mohan Joshi believes that tradition began as early as the 7thcentury in China after the arrival in Beijing of Priyajiv, the ambassador of King Narendra Dev. In his book on <a style="background-color: #ffffff; letter-spacing: 0.01em;" href="https://www.nepalitimes.com/here-now/the-life-and-times-of-arniko/">Arniko</a>, Joshi cites a 1,400-year-old stele inscribed with the Usnisa Vijaya Dharini Sutra in the Xi'an Museum. However, Ranjaan was not in the picture yet, and these scripts may have been the precursors of Ranjana. Ranjana started appearing in Buddhist monuments after the 12th century.  <figure><img width="2502" height="757" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221107171132/636933809c7e80680e03dfa1jpeg.jpg" alt=""><figcaption> </figcaption></figure>Ranjana alphabet was derived from the Brahmi script and originally developed in Nepal in the 11th century, which is why some say it should be called the ‘Nepali script’. "In Nepal the Brahmi developed into the Lichhavi script and the Nepal script, which further was transformed to Ranjana," says Devdas Manandhar, a forceful proponent for the preservation of Ranjana. "The Nepal script was uniquely Nepali and has a very distinctive way of writing the vowel ‘ae’ which carried over to Ranjana.” However, other scholars say the script originated in Bengal and transferred to Nepal along with other cultural heritage after Buddhism was overrun in northern India. Buddhist scholar Basanta Maharjan says that the Ranjana letters were beautified, and preserved by the Newars of Kathmandu Valley from where it travelled to Tibet, China and on to Korea and Japan."Tibet's religion and philosophy were influential not just in China but in Mongolia in the north and Kashmir in the west. The version of Ranjana found in all these places is distinctly Nepali, and that is something that we can be proud of," says Maharjan.  <img width="640" height="853" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221107171132/636933839c7e80680e03dfa2jpeg.jpg" alt=""><img width="640" height="850" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221107171132/636933869c7e80680e03dfa3jpeg.jpg" alt=""><img width="640" height="853" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221107171132/636933899c7e80680e03dfa4jpeg.jpg" alt="">Nepali art and philosophy got another boost in China from Arniko, the Kathmandu architect who travelled to Beijing in the 13thcentury to help  <a href="http://archive.nepalitimes.com/news.php?id=7263#.W-JtI6cQ0Wp">Kublai Khan</a> build temples and monuments with Buddhist symbolism, and leave a Nepali imprint in the ancient architecture of China, Korea and Japan.  Satya Mohan Joshi researched Arniko in China, and is convinced it was Arniko's influence that helped spread the Ranjana script. The White Dagoba built by Arniko in Beijing in 1279 still stands today, and contains many distinct Ranjana inscriptions. The Cloud Platform at the Great Wall, which Joshi also documented in his book, was built almost a century after Arniko reached China and shows his influence. On top of the arch are Garuda, crocodiles, and other carved elements which look like they have been transplanted from Kathmandu.The Ranjana script was used in a new golden stupa built in Beijing's Patachou as recently as 1960 to house the Buddha's tooth relic. "The prevalence of this script is an example of the enduring influence of Arniko, and the close cultural links between Nepal and China," says Joshi.  <img width="2592" height="1944" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221107171132/6369338c9c7e80680e03dfa5jpeg.jpg" alt="">Arniko created the White Pagoda on Kublai Khan's command, and it was then a symbol of the unification of China under Yuan dynasty. Today the Miaoying Temple museum in Beijing acknowledges his work as ‘a great symbol of cultural exchange between Nepal and China’. That Nepali art, architecture and the Ranjana script were so widespread in China are proof of this historical trans-Himalayan connection. Devdas Manandhar says that Ranjana is Nepal’s gift to Asia’s culture, and is still seen from Kashmir to the Great Wall of China, and in Japan. He explains: "Since the Ranjana script was associated with the Buddhist scriptures, it is always found above doors, so that you never stepped on the holy fonts.”

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The script of the scriptures

It is only April, and Himalayan expeditions are already making rotations to acclimatise on Annapurna and Dhaulagiri, and will soon be making summit pushes.&nbsp; On Mt Everest, Icefall Doctors are fixing ropes and ladders into the Western Cwm as international climbers arrive at Base Camp. Spring 2026 is going to be the busiest and most crowded so far in the Nepal Himalaya. The main reason is that China has closed expeditions from the north side for eight-thousanders Everest and Cho Oyu, and also Xixapangma.&nbsp; The closure is informal, from what one can make out. The Chinese have not put out any official statement, but there are no permits either. The reason seemingly was the ‘Rising Dragon’ firework display last September by pyrotechnic artist Cai Guo-Qiang near Xigatse.&nbsp; Working with outdoor wear company Arc’teryx, Guo-Qiang set off an impressive sequence of orange and white fireworks that wound up a mountain. The spectacular display was criticised for damaging the fragile ecology of the Tibetan Plateau. But this cannot be the only reason the north side is closed. Experienced Everest blogger Alan Arnette anticipates that about 125 climbers will shift to the Nepal side of the mountains, and expects there to be up to 900 summits this spring — up from the highest spring number so far of 876 climbers on top in 2019.&nbsp;  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20260404050428_8c31812bf38f699c4faa74f25814a6ddaee397f71a629e549023f29250f05082.jpg" data-media-id="editor_0" data-image-id="20260404050428_8c31812bf38f699c4faa74f25814a6ddaee397f71a629e549023f29250f05082" data-rendition-name="original" width="1500" height="1000" loading="lazy" alt="mountaineering"> <figcaption>Photo: KARMA TENZING</figcaption> </figure>  The early Base Camp arrivals are having problems with their first rotations because of heavy snow this season. Unlike previous springs, this year has seen back-to-back blizzards at high altitudes since February. The increased snow load on the slopes have increased avalanche danger right across the mountains.&nbsp; There has been an increase in numbers on Everest despite the West Asia war, flight disruptions, LPG shortage and new regulations. The permit fee has gone up for the first time since 2015 from $11,000 to $15,000 this year.&nbsp; The Tourism Bill passed by Nepal’s Upper House last year would have required climbers to have first summitted a 7,000m peak in Nepal before attempting Everest. However, the Department of Tourism has confirmed that there are no new experience requirements this season. Some want this rule changed to include 7,000m peaks anywhere in the world. That could be one reason people are rushing to climb Everest before the Nepal government changes its mind and enforces the new regulations on prior experience on Everest. “It’s probably going to encourage a lot of people that simply are not ready to go,” reckons Alan Arnette. “Once again, we may see a lot of inexperienced people on the mountain trying to get in before the rule comes into place, if it does.”&nbsp; Arnette has always been sceptical of Everest regulations, and points out many instances where rules have been announced but not implemented over the ten years that he has been tracking them. For example, a helicopter ban to Everest Base Camp was announced last year, but rescinded. A rule requiring climbers to bring down waste was never seriously enforced. Since there is so much money involved for the government and for the operators, any any rule that would reduce revenue is never fully implemented. This year there is another ‘High-Altitude Trash Quota’ rule requiring climbers and guides operating above Camp 2 to collect and bring down at least 2kg of waste from the higher camps.&nbsp; The Nepal government has tried to diversify peaks on offer by reducing the royalty on climbs, but the draw of Everest, Annapurna and other eight-thousanders seems to be too great. Even when the permit fees for some remote peaks like Kangri Shar, Himlung and Api, were reduced to $400, there are few takers.&nbsp;  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20260402120436_a90cd44858e97086f773aa1fbd592b3434bb07d89cd4a1843b2ca32a84e7c72d.jpg" data-media-id="editor_1" data-image-id="20260402120436_a90cd44858e97086f773aa1fbd592b3434bb07d89cd4a1843b2ca32a84e7c72d" data-rendition-name="original" width="1500" height="1125" loading="lazy" alt="Photo Damien Francois"> <figcaption>Photo: DAMIEN FRANCOIS</figcaption> </figure>  TIME LAPSE Clients and expedition operators have been trying to shorten the time needed to complete an Everest expedition from the city of origin to the top and back. Since Nepal has no rules about spending a certain number of days in acclimatisation, this has allowed some expedition organisers to use new technology.&nbsp; Austrian operator Lukas Furtenbach last May led a group of four British ex-military clients to the summit within a week of leaving London. This climb was scrutinised because the group had practiced breathing xenon gas, a substance that increases the count of red blood cells and is banned in competitive sports. The climbers had also trained for months at home in hypoxic tents, and used supplemental oxygen during the actual climb.&nbsp; The success of that expedition prompted an investigation by Nepal’s Ministry of Culture, Tourism, and Civil Aviation, but there was nothing it could do because the team had taken the xenon in Germany two weeks before their trip. But even if they had administered the gas in Nepal, it would technically not be illegal. Furtenbach is firmly in favour of speed, and of using the gas. “The only reason why we are working with xenon is to make climbing safer, to protect climbers from high altitude sickness,” he says, arguing that the less time climbers spend on the mountains, the less their exposure is to disasters, sickness, and they also generate less trash.&nbsp; His firm, Furtenbach Adventure, offers a three-week Everest South Flash expedition, at a cost of €100,000, using custom oxygen systems. Other expeditions take up to two months.&nbsp; A young American duo of Ryan Mitchell and Justin Sockett got to Everest Base Camp five days ago. They are preparing for an oxygen-free summit attempt.&nbsp; ‘ Being around these mountains for one day has already brought me so much joy. Every time I come back to the Khumbu I feel more familiar and connected,’ posted Mitchell. He and Sockett have since summitted Lobuche East (6,119m) as they continue to acclimatise and wait for the Khumbu Icefall route to be fixed.&nbsp; There are other sans-O2 trips planned this climbing season in Nepal. Norwegian Kristin Harila, the fastest in the world to climb all 14 8,000ers (in 92 days), is attempting the Nuptse, Lhotse, and Everest three-peak climb without supplemental oxygen. American Tyler Andrews and Ecuadorian Karl Egloff are continuing their race to break records in Everest. While Andrews is attempting the Fastest Known Time from Base Camp to the top without oxygen, Egloff is taking it a step further and going for a round trip: from Base Camp to the summit and back in record time.&nbsp; Both Egloff and Andrews had attempted these climbs in 2025 spring, but abandoned around 7,000m due to bad weather.&nbsp; Kami Rita Sherpa wants to extend his all-time record of total Everest summits to 32, while Kenton Cool from England is chasing 20, a non-Nepali record.&nbsp; The first summits of the season will be in late April, or early May depending on weather. Besides Everest, there are a lot of interesting climbs on lesser known peaks.&nbsp; The Japanese trio of Masayuki Takenaka, Tatsuro Sugimoto, and Ryota Nomura, for example, are attempting the unclimbed Jarkya Himal (6,473m) near Manaslu. &nbsp;&nbsp; <h2>Fake rescues</h2>  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20260402120436_600c0176e24327fd3dfcfd634e4b871f3e5314aa00eb4885ad137ac6f9c4a3b6.jpg" data-media-id="editor_2" data-image-id="20260402120436_600c0176e24327fd3dfcfd634e4b871f3e5314aa00eb4885ad137ac6f9c4a3b6" data-rendition-name="original" width="800" height="519" loading="lazy" alt="Fake rescues"> </figure>  This year’s spring climbing season has coincided with Nepal’s new government taking action against alleged perpetrators in fake rescues and insurance fraud. The Central Investigation Bureau (CIB) has already arrested more than a dozen trekking agency executives, hospital managers and helicopter company executives for medevac insurance fraud. Climbers are known to fabricate medical emergencies, get flown down from as high as Camp II on Everest, and then submit false insurance claims.&nbsp; Sometimes one flight is made to look like many using fake invoices. Trekking companies are also involved in fake rescues of hikers who just get tired of walking.&nbsp; Too many fake claims could lead to insurer’s losing confidence in the industry, and increased premiums, leading to delayed responses in real accidents.&nbsp; As a result of the scandal, there is now more scrutiny from the government about rescues. Already, helicopter operators have to wait for permission before carrying out rescues while their application is vetted.&nbsp; The worry is that this could cause unnecessary delays when time is of the essence in mountain rescue. Already, medevacs are delayed because of the bureaucracy needing permits to fly to sensitive regions bordering China. Last year, a climber died on Himlung because helicopter rescue took too long while operators ran from door to door in Kathmandu to obtain necessary permits. <h2>Mingma David Sherpa, MP</h2>  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20260402120432_05c1600440327f4ae4bcae641b634714951f45702080a88d4e2628587190aa25.jpg" data-media-id="editor_3" data-image-id="20260402120432_05c1600440327f4ae4bcae641b634714951f45702080a88d4e2628587190aa25" data-rendition-name="original" width="960" height="958" loading="lazy" alt="Mingma David Sherpa"> </figure>  Meet Mingma David Sherpa, Nepal’s first mountaineer to be nominated to Parliament. Sherpa is a self-made professional climber from Rolwaling, who rose up from an expedition porter to a record-breaking mountaineer and expedition organiser. As an insider, he is now in a position to streamline laws related to Nepal’s trekking and mountaineering sector. He is co-owner of EliteExped with Nims Purja, and in 2021 the two were part of a team of Nepali climbers to be the first to make it to the top of K2 in winter, the second highest mountain in the world in Pakistan.&nbsp;  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20260402120432_c4ec586e7a27b09a72e61925a3897d843f864563d9e82a3fd3e25293e22cbe54.png" data-media-id="editor_4" data-image-id="20260402120432_c4ec586e7a27b09a72e61925a3897d843f864563d9e82a3fd3e25293e22cbe54" data-rendition-name="original" width="2082" height="1396" loading="lazy" alt="Mingama David Sherpa"> </figure>  Mingma David was also on Purja’s Project Possible to climb all the 14 eight-thousanders in six months, shattering the previous record of seven years. He was featured in Purja’s documentary 14 Peaks: Nothing is Impossible.&nbsp; At age 30 he became the youngest climber to reach the top of all 14 eight-thousanders for which he was awarded the Piolet d’Or. Mingma David has taken part in dozens of successful rescues of fellow climber, including the highest ever long-line rescue on Dhaulagiri and saving the life of fellow-climber from 8,600m on Everest. <h2>April Fool</h2>  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20260402120432_775afff27d4a2889a60730aa25bbc5f8eb8ea343528c8c031a6febbfd74814c4.jpg" data-media-id="editor_5" data-image-id="20260402120432_775afff27d4a2889a60730aa25bbc5f8eb8ea343528c8c031a6febbfd74814c4" data-rendition-name="original" width="1365" height="1820" loading="lazy" alt="Furtenback Adventures"> </figure>  The Austrian expedition outfitting company Furtenbach Adventures spoofed the anticipated crowds on an April First post on social media this week, showing ‘a fully galvanized, weather-resistant steel staircase, complete with a sturdy handrail’ to make the Hillary Step bottleneck on Mt Everest less dangerous.

Nepal Himalaya Spring 2026

Samsung Nepal has opened pre-orders for the Galaxy A57 5G and A37 5G. Both phones run Samsung’s One UI 8.5, featuring AI capabilities like voice transcription, Circle to Search, and photo editing. They feature a 50MP triple-camera system, a Super AMOLED display, and six years of OS and security updates.

Galaxy A series

The war in West Asia has exposed the fragility of the economic architecture Nepal has built on over two generations. If the conflict continues, growth across developing Asia will slow and prices will rise. For Nepal, this will be felt through higher living costs, weaker economic activity, and growing uncertainty for the millions of families who depend on remittances.&nbsp; Nepal now needs to structurally transform from exporting labour to investing in domestic job creation. &nbsp; The country's current path toward a knowledge economy has a blind spot. A <a href="https://iids.org.np/wp-content/uploads/2025/02/unleashing.pdf" target="_blank">report</a> by the Institute for Integrated Development Studies (IIDS) in Kathmandu shows that IT export companies alone generated 7,228 jobs and income for 66,509 freelancers.&nbsp; We are building digital labour export, not an economy that accumulates institutional knowledge. The Nepali Upwork developer and a migrant construction worker in the Gulf are engaged in the same economic activity, but with different tools. Nepal’s reliance on a <a href="https://data.worldbank.org/indicator/BX.TRF.PWKR.DT.GD.ZS?locations=NP" target="_blank">remittance-driven economy,</a> means the country has failed to create enough <a href="https://www.worldbank.org/en/country/nepal/publication/unlocking-nepal-s-growth-potential" target="_blank">quality jobs</a> at home. For millions of young people, leaving the country is not a choice but a necessity to survive and support families back home. <a href="https://www.worldbank.org/en/country/nepal/publication/unlocking-nepal-s-growth-potential" target="_blank">Remittances</a> have no doubt helped reduce poverty. Thirty years ago, 55% of Nepal’s population lived on less than $2.15 a day, now it is 20% after the absolute poverty line was revised upwards. This progress has come at a cost — &nbsp;an economy that depends more on exporting workers than creating opportunities at home. This development reflects a deeper political failure to create meaningful jobs within the country. Since the democratic transition in 1991, Nepal’s leadership has largely recycled the same faces, with limited progress on job creation or industrial growth.&nbsp; Nepal cannot build a <a href="https://nipore.org/accelerating-nepals-startups/" target="_blank">knowledge economy</a> while its most ambitious people are outbound to Doha and Tokyo. We are also not just losing ‘labour’. We are losing the entrepreneurial risk tolerance of our youth.&nbsp; If the most ambitious 25-year-olds are abroad, who is left to support innovation and entrepreneurship? The same people who are working tirelessly abroad, are our biggest asset for development. Their work ethic and the know-how inurban renewal could well fit into the new RSP government’s mandate of 7% annual growth.&nbsp; The <a href="https://english.biznessnews.com/posts/-nepal%E2%80%99s-it-exports-cross-1-billion-" target="_blank">$1B milestone</a> of IT exports is a celebratory moment for Nepal. However, that cannot lead to a pathway to a $100 billion economy without innovation ecosystems that go beyond individual labour export. Companies like SecurityPal and industry associations such as NASIT have made significant efforts in building such an environment, recently championed by private sector leaders as a &nbsp;<a href="https://www.securitypalhq.com/blog/silicon-peaks" target="_blank">Silicon Peaks</a> model that emphasises a home growth tech cluster. The need to accelerate this transition is even more urgent with the escalating conflict in West Asia. &nbsp;The recent International Labour Organisation (ILO) <a href="https://www.ilo.org/sites/default/files/2026-03/Nepal%20LDC%20Graduation%20Employment%20Impacts%20Report.pdf" target="_blank">report</a> shows that LDC graduation is expected to adversely impact manufacturing with losses of $1 billion by 2030.&nbsp; If manufacturing takes such a large hit from losing trade preferences, then Nepal’s services and IT sectors need to structurally transform and shift from exporting individual talent to building firms. &nbsp; A generation’s frustration has finally forced a shift in Nepal’s political structure, handing the new government a clear mandate to fix failures. But the question still persists: what prevents Nepal from achieving sustained, productivity-driven growth? &nbsp;&nbsp; RSP is in the right place at the right time to put Nepal's economy on a firm footing. At the heart of Nepal’s economic underperformance lies a major development binding constraint: low returns to investment on projects.&nbsp; The government invests like a high-growth economy, with gross capital formation at around <a href="https://data.worldbank.org/indicator/NE.GDI.FTOT.ZS?locations=NP" target="_blank">25–30 percent of GDP</a>. Yet economic growth remains modest. The problem is not how much the country invests, but how little it gets in return. One way to see this is by looking at how much investment is required to generate growth.&nbsp; Nepal needs large amounts of capital to produce relatively small gains in output (graph, below). For instance, in 2024, the ICOR was 8.29, this suggests that Nepal had to invest more than 8 units of capital to produce a one unit of additional economic output.&nbsp;  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20260406040412_605dc527641d2ff2dc5723ed8bbec946898331d5538a55b9941e32a0725bf811.jpg" data-media-id="editor_9" data-image-id="20260406040412_605dc527641d2ff2dc5723ed8bbec946898331d5538a55b9941e32a0725bf811" data-rendition-name="original" width="1827" height="925" loading="lazy" alt="Economy graph"> <figcaption>Source: Author's calculation based on a Growth Diagnostic simulation</figcaption> </figure>  This reflects a deeper issue in how investment is allocated and executed. Capital is often locked in low-productivity sectors or diluted by delays, inefficiencies, and policy uncertainty.&nbsp; As a result, even high levels of investment fail to translate into sustained growth. Until investment shifts toward productive, firm-building activities, higher spending alone will not deliver results. &nbsp; To reverse this, the government must focus on raising the returns to investment by enabling firms to grow and compete. This requires a shift from managing scarcity to creating an environment where capital can generate consistent and predictable returns. A central priority should be given to attracting and retaining both domestic and foreign private investment. Investors do not just respond to direct incentives, but also to policy stability in the country. Nepal’s economy cannot sustain high growth if its human capital continues to leave the country.&nbsp; The goal should not simply be to create jobs, but to build companies that scale, innovate, and compete beyond Nepal. This requires supporting sectors with strong productivity potential and ensuring that firms can expand without being constrained by infrastructure gaps or regulatory friction. Finally, the state must improve the quality of its own investment. Public spending should focus on lowering the cost of doing business through reliable electricity, efficient logistics, and digital infrastructure.&nbsp; The GenZ movement took two days to bring change. The economic transformation of Nepal might take a generation. The RSP can accelerate this transition, but only if it focuses on building a better investment climate for business and not just feeding the global labour pool. Kailash Raj Pandey is an MPA/ID and MBA candidate at Harvard Kennedy School and MIT Sloan School of Management and a fellow at MIT Kuo Sharper Center for Innovation and Prosperity.&nbsp; Siddhartha Raymajhí is a policy researcher based in Kathmandu.

mahayana

New Newa art

The script of the scriptures

Nepal Himalaya Spring 2026

Galaxy A series

Creating a firm future for Nepal

Know your Ministers