Nepal, Feb. 8 -- The International Monetary Fund (IMF) has recently revised the global growth upward from the earlier projection made in October. According to the January projection, the world economy will grow by 3.3 percent in 2026 compared to the earlier projection of 3.1 percent. China's growth for 2026 has been revised upward by 0.3 percentage points to 4.5 percent. And, for India, growth has been revised upward by 0.2 percentage points to 6.4 percent. According to the WTO, the global merchandise trade volume is also projected to grow by 2.4 percent in 2025 compared to the earlier projection of 0.9 percent.

Nepal, lying between two emerging economic powerhouses, China and India, remains in a low-growth trap. Over the past 50 years, ...