In the wake of an economic slowdown that has cast a shadow over the nation, the manufacturing sector in Lumbini Province finds itself grappling with a significant setback. Recent findings from a study report by Nepal Rastra Bank (NRB) reveal a disconcerting 5.54 percent shrinkage in the production capacity of factories in the region, dropping from 56.36 percent in the fiscal year 2021/22 to a mere 50.82 percent in the fiscal year 2022/23.

MUNICH – As the COVID-19 pandemic escalates, the risks inherent in global supply chains are more apparent than ever. Rather than await a return to business as usual, with manufacturing activities concentrated in countries where labor is cheap and plentiful, advanced-economy companies are shifting their focus to the lowest-wage workers of all: robots.