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Information Technology and Financial Development of Nepal

  • Date Submitted: 07/22/2012 08:08 AM
  • Flesch-Kincaid Score: 40.1 
  • Words: 263
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Information Technology without any doubt is a very recent phenomenon that has flourished and taken the world rapidly in such a short time and will soon fit in the basic need categories. In the context of Nepal, IT is seen as one of the most significant force of modernization.
Instead of discussing the role of this technology in the economic development of Nepal, it would be more appropriate to say that there would be no desired economic development of any country without fully adopting information technology. The various way how the IT may help Nepal is described below:
Information Technology as Foreign Exchange Earner: Can earn lot of foreign currency from the outsourcing and other projects imported from Abroad. Not only that we can earn the money by selling the product online through various E-commerce site.
Creation of Employment: The first and foremost attribute of this technology is to create employment. This can be adopted by a layman as a small and individual profession on very low profile simply to earn bread and butter for the family and can be done as very large and giant scale industry to absorb a number of qualified engineers.
Increase in Export: We have much potential for the export of our sugar, rice, cotton and even the water. Yet we are unable to achieve the desired target of exports. The question is of fast communication as well as qualitative and quantitative improvement with the help of this technology which can go a long way in increasing our exports manifold opening thereby the door of prosperity.

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