Nepal's last decade has been an eventful one. A peace agreement with Maoist insurgents in April 2006 ended 240 years of monarchy, paving the way to establish a federal democratic republic. The process has
been a difficult one. A rent-seeking political syndicate emerged that used the transition to further their own power and interests. The economy has been impacted, with no long-term vision to anchor policies and public action. However, growing remittances has kept it going. The social development indicators related to poverty, education and healthcare have improved, but the 2015 earthquake and blockade has pushed the country back. The challenge is to maintain the newfound growth momentum, while strengthening democratic governance and public accountability. The private sector has to expand and compete with global and regional competitors. The development sector has to graduate from being a poverty broker to prosperity catalyst. The question is: will Nepal succeed in creating opportunities for its people in the emerging geo-political context, as India plays catch up with its Look East policy in response to China's Belt and Road Initiative?