Swarnim Wagle has said that Nepal is on the verge of a new era of economic development. Speaking at an event organized by Barakhari Media, he compared Nepal’s current economic stage to that of India about a decade ago.

He noted that when India’s per capita income was around $1,500 in 2014, it marked the beginning of rapid economic growth. Nepal, he argued, is now at a similar point and could achieve high growth rates in the coming years.

The minister assured that the current government will complete its full five-year term and urged investors to remain confident. He also acknowledged past issues of unhealthy relationships between politicians and select business groups, stating that such policy capture would now be ended.

He emphasized strict law enforcement while assuring that honest entrepreneurs need not fear. The upcoming budget will prioritize private sector investment, asset protection, and enforcement of business contracts.

The government has set a target to grow Nepal’s economy to $100 billion and raise per capita income to $3,000 within the next seven years.

Highlighting Nepal’s landlocked geography, he stressed digitalization as a key tool to overcome challenges. Bringing IT-related bodies under the Prime Minister’s Office is expected to improve service delivery significantly.