Internet penetration in Nepal has increased from a mere 9% percent to 90% over the past 15 years. The ISP sector has now become a Rs 30 billion industry. With the onset of the 2.0 internet phase and the emergence of immersive technologies, it is clear that we need an elevated level of network capability to meet the demand for multiple gigabit connections. At the same time, the IT services industry, valued at $1 billion, requires a robust infrastructure if we are to scale up further. The persistent challenge of brain drain has significantly impacted us. Following the pandemic, we witnessed another wave of migration, particularly among graduates and postgraduates, leaving the country. Retaining mid-management level IT talent in Nepal has become increasingly challenging.
Previously, male staff often sought opportunities abroad, but now we are seeing a shift. Many males are migrating due to their spouses obtaining visas for foreign countries. This shift prompted the need for a revamped HR strategy to address these evolving trends which seems to be in a transitional phase. While our focus used to revolve around sales and growth strategies in the past, the post-pandemic landscape necessitated the development of a sustainable HR strategy. This compelled us to revisit and reassess each of our processes from the ground up.
The private sector must maintain confidence and optimism even amidst challenges. It is crucial to continue investing in our core products and services to continually enhance their quality. By consistently improving our offerings, we stimulate consumption in the market. Premium products and services play a pivotal role in driving consumption. Therefore, it is essential to focus on elevating the quality of our offerings to attract consumers and foster sustained demand.