Summary: The text discusses the importance of rational choice of techniques in industrial development in Nepal and emphasizes the significance of private foreign investment to overcome the challenges of capital, entrepreneurship, and technical skills. It highlights the role of the government in guiding industrial growth through regional planning and its active participation in key strategic sectors. The text suggests that government intervention is essential due to the lack of confidence in private investment and the need to ensure a fair return on investments. It calls for training local personnel in business management and emphasizes the need for foreign enterprises to engage local talent, thus enabling the transfer of know-how. The text underscores the critical role of the government in providing a conducive environment for industrial development by addressing market imperfections and fostering a judicious choice of techniques to achieve employment, productivity, and growth objectives. Lastly, it discusses the challenges of industrial development in Nepal, such as regional disparities and the need for effective infrastructure development to attract investment and boost economic growth.