January 31: The data with ITC Trademap shows that global figures for the import of wooden frames stand at around US$ 893.6 million (Rs 101.87 billion).
Nepal has also been producing quality frames and exporting them to various countries. But these exports peaked in the fiscal year 2009/10 and have been very less ever since. So, Nepal must strengthen its domestic industries in order to drive up its exports once again.
Moreover, the government must support the opening of factories, produce the necessary manpower, encourage research and innovation as well as ensure the uninterrupted supply of raw materials. To ensure that the prices are competitive, the government must also give tax-rebate and subsidies to factories producing wooden frames.
Nepal’s geographic location is ideal for producing premium wooden artifacts, including frames which, if marketed well, can become a huge export and a good source of foreign currency.