News Summary
Prepared after review.
- Kamlesh Kumar Agrawal, President of Nepal Chamber of Commerce, emphasized the need to increase investment in innovation, research, and cutting-edge technology to transition Nepal towards a knowledge-based economy.
- President Agrawal highlighted that integrating youth power and digital access with productive economic sectors through innovations like artificial intelligence, robotics, and drone technologies could establish Nepal as a significant hub in South Asia.
- He stressed institutionalizing collaboration among universities, private sectors, and government to connect research beyond laboratories with industry, market, and society.
July 25, Kathmandu – Kamlesh Kumar Agrawal, President of the Nepal Chamber of Commerce, has called for increased investment in innovation, research, and advanced technologies to advance Nepal towards a knowledge-based economy.
At the opening ceremony of ‘Innovation Fest 2026’ organized by Sunway College, President Agrawal noted that the world has entered the era of the Fourth Industrial Revolution. He outlined that artificial intelligence (AI), robotics, drone technology, big data, Internet of Things (IoT), blockchain, quantum computing, and biotechnology are transforming the global economy and industrial landscape.
He emphasized that knowledge, research, innovation, and technology have become the main drivers of a nation’s competitive advantage, foregoing reliance on natural resources or cheap labor. Agrawal expressed the view that if Nepal can connect its young workforce, creativity, and digital access with a productive economy, the country could become a key innovation hub in South Asia.
The festival brought together AI, robotics, drone technology, research, innovation, and future skill development at one platform. Agrawal stated these sectors represent the future of employment, industry, production, and economic growth.
He pointed out that AI is opening new possibilities across education, healthcare, agriculture, banking, insurance, tourism, public services, manufacturing, and trade. Agrawal underscored the importance of deploying AI with transparency, privacy, ethics, and human welfare in mind, asserting that technology should empower people rather than replace them.
Discussing robotics, he mentioned its crucial role in industrial production, healthcare, automation, hazardous tasks, and disaster management. Considering Nepal’s geographic conditions, Agrawal proposed extensive use of drone technology in agriculture, forest conservation, land surveying, infrastructure inspection, disaster rescue, medicine delivery, and tourism promotion.
Agrawal reiterated that innovation is impossible without research, calling for institutionalized collaboration among universities, research institutions, private sector, and government. He stressed the need to connect research with industry, market, and society rather than limiting it to laboratories.
He advocated promoting innovation through effective protection of intellectual property rights, support for startups, incubation centers, accelerators, and venture capital.
Urging young people not only to seek employment but also to adopt entrepreneurial thinking that creates jobs, he emphasized that creativity, problem-solving skills, digital literacy, leadership, and continuous learning will be the foundation for future success.
President Agrawal affirmed the Chamber’s continuous commitment to fostering a technology-friendly economy, digital transformation, startup promotion, industry-academia collaboration, and research-based enterprise development.
He requested the government to effectively implement the national AI policy, increase investment in research and development, institutionalize university-industry collaboration, provide tax and financial incentives for startups, strengthen digital infrastructure, cybersecurity, and data protection, develop skilled human resources in AI, robotics, semiconductor design, data science, cybersecurity, and green technologies, expand technology access for women and marginalized communities, and ensure effective protection of intellectual property rights.
Agrawal described the festival not just as an exhibition but as a shared platform to build Nepal’s future. He emphasized that cooperation among all stakeholders is essential to achieve prosperity through research, innovation, and technology-driven development.
