KATHMANDU, September 12: Shekhar Golchha, president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), has said that the country's economic indicators are worrying.
Speaking at an interaction on advertising code of conduct with the FNCCI on Sunday, Golchha said that there have been problems in the economy for a long time. He said that as the economy is shrinking, the industry and advertising business will also shrink.
State of the economy
Golchha said that the problems seen in the economy are fundamental and it may take a few months to get back to the rhythm from the problems seen in the economy.
Golchha expressed his belief that the vision paper of the FNCCI will play a major role in broadening the scope of Nepal's advertising market. He said that due to Covid-19, the advertising market has not expanded as expected.
He said that Nepal's advertising market would have reached the value of Rs 20 billion if not for the impact of Covid-19. He said that domestic advertisement in Nepal is 60 percent and foreign advertisement is 40 percent. Golchha said that the advertising business has given employment to 35,000 people.
