Shekhar Golchha, president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), has said that Nepal’s economic indicators are worsening.
Speaking at an interaction programme on advertising code of conduct with the FNCCI on Sunday, Golchha said that there have been problems in the economy for a long time. As the economy is shrinking, the industry and advertising business will also shrink, he pointed out. Golchha said that the problems surfacing in the economy are fundamental and it may take a few months to get back to the normal from the problems seen in the economy.
Golchha expressed his belief that the vision paper of the FNCCI will play a key role in broadening the scope of Nepal’s advertising market. He said that due to Covid-19, the advertising market has not expanded as per expectation. He claimed 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. The advertising business has given employment to 35,000 people, according to Golchha.