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As a first milestone and epoch making event, an industry council was being set up by then Prime Minister of Nepal, Judha Samsher, Ja. BA. RA. that was carried a pin point objectives; to promote and cope industrial activities and for conducive business environment in the state, in that year, laws related to the companies, entities and industrial business were first introduced to implement. As the ministry of industry and commerce was established in 2038, it's jurisdiction had one more thing been assigned by supplies sector in 2040 B.S. Since that year, industry, commerce, and supplies were separately introduced as three ministries of government of Nepal. Eventually, these three emerging sectors had recasted a ministry of industry, commerce and supplies by 2057 B.S. Likewise, then new government in need based setup the ministry of commerce and ministry of Supplies separately. As of 2074 BS, federal Ministerial council has established as a ministry of industry, Commerce and supplies by intermingling those vibrant three sectors. The government of Nepal deemed as a pivotal ministry due to carried out of it's vulnerable and especial service sector which are solemnly connected to the contribution of GDP, state's economy and growth rate as well. The key functions of the ministry has been accomplishing of creation of conducive atmosphere for industrial development and investment promotion, and also tasks of regulation and facilitation of internal, bilateral, and regional trade as well as protection and building the industrial infrastructure and intellectual property right so on. For this fulfilment, ministry has also been engaging to the formulation of policy and program in the connection with industry, commerce and supplies, and gingerly collaborating and exchanging cooperation with different ministries and entities of government of Nepal, private sector and international donor communities including further efforts of monitoring and its feedback for the those programs to the effective implementation. The ministry has been functioning as per our key policy frameworks such as Nepal government work- division regulation 2074, industry policy 2067, commerce policy 2072, industrial business act 2074, consumer protection act 2075, supplies policy 2069, national intellectual property policy 2073, foreign investment policy 2071, mineral policy 2074, and foreign investment and technological transfer act 2075 etc.

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