As a first milestone and epoch making event, an industry council was being set up by then Prime Minister of Nepal, Judha Samsher, Ja. BA. RA. that was carried a pin point objectives; to promote and cope industrial activities and for conducive business environment in the state, in that year, laws related to the companies, entities and industrial business were first introduced to implement. As the ministry of industry and commerce was established in 2038, it's jurisdiction had one more thing been assigned by supplies sector in 2040 B.S. Since that year, industry, commerce, and supplies were separately introduced as three ministries of government of Nepal. Eventually, these three emerging sectors had recasted a ministry of industry, commerce and supplies by 2057 B.S. Likewise, then new government in need based setup the ministry of commerce and ministry of Supplies separately. As of 2074 BS, federal Ministerial council has established as a ministry of industry, Commerce and supplies by intermingling those vibrant three sectors. The government of Nepal deemed as a pivotal ministry due to carried out of it's vulnerable and especial service sector which are solemnly connected to the contribution of GDP, state's economy and growth rate as well. The key functions of the ministry has been accomplishing of creation of conducive atmosphere for industrial development and investment promotion, and also tasks of regulation and facilitation of internal, bilateral, and regional trade as well as protection and building the industrial infrastructure and intellectual property right so on. For this fulfilment, ministry has also been engaging to the formulation of policy and program in the connection with industry, commerce and supplies, and gingerly collaborating and exchanging cooperation with different ministries and entities of government of Nepal, private sector and international donor communities including further efforts of monitoring and its feedback for the those programs to the effective implementation. The ministry has been functioning as per our key policy frameworks such as Nepal government work- division regulation 2074, industry policy 2067, commerce policy 2072, industrial business act 2074, consumer protection act 2075, supplies policy 2069, national intellectual property policy 2073, foreign investment policy 2071, mineral policy 2074, and foreign investment and technological transfer act 2075 etc.

According to the Government of Nepal, the workforce of the Ministry has been in accordance with the workforce rules 2074.

Industrial Policy, Law, Criteria, and Regulation;
Industrial corridor, industrial park or village, and export processing center;
Policy, Law, Criteria, and Regulation of Industrial Sector and Special Economic Area;
Policy, Law, Criteria, Planning Implementation and Regulation regarding Foreign Investment and Technology Transfer
Industry, Industrial Business, and Company;
Infrastructure policy, law, criteria, coordination, and regulation regarding industries and minerals;
Security sensitive industry registration, operation permissions, dismissal, and regulation;
Industrial technology development and transfer;
Contact and coordinate with the International Industrial Union Organization;
Central Prison Factory;
An agreement, partnership, and agency related policy, law, criteria, and regulation;
policy, law, criteria, and regulation related to the management of goods and services in the sick industries;
Patents, Design, Trademark, Geographical Indications, Contact and coordinate with the International Union Organization, Policy, Law, Criteria Implementation and Promotion of industrial intellectual property;
Conversation and coordination with the international body related to the quality and policy of policy, law, criteria, implementation, and regulation;
Items, service, process, and national quality assessment, accreditation and accreditation board of the system;
National Policy, Law, Criteria, and Regulation of Mineral and Minerals;
Radioactive substances, petroleum substances, natural gas, and multi-purpose substances and small minerals and survey related to minerals, exploration, and excavation, registration, permission, and regulation;
geographic studies and research and maps;
Establishment and operation of the National Laboratory for collecting a collection of mines and minerals and goods and records and research;
Earthquake study and research, earthquake surveillance, earthquake measuring centers;
Policy, Law, Criteria, Planning, Implementation, and Regulation of International Trade;
bilateral, regional, sub-regional and multilateral talks, agreement, implementation and regulation of bilateral and international trade and bilateral relations;
Policy, Law, Criteria, Implementation, and Regulation of National, Secondary and International Trade Sharing;
Contact, coordinate, negotiate, and monitor the agreement with the International Trade Agreement, including World Trade Organization, and multilateral trade;
Contact, coordinate, negotiate, compromise, monitor and monitor the organization with regional and sub-regional trade and independent business sector, including SETTA, BIMSTEC;
management and management of national, bilateral and international trade transactions;
clearance promotion, transfer management and regulation;
National, bilateral and international trade statistics, studies, research and surveys;
National, bilateral and international trade fair and exhibition operations and engagement;
Support for trade (Aid for Trade);
Regarding the foreign policy related to international trade;
commercials;
The policy, law enforcement and regulation of inter-business trade;
transit, international transport arrangements, multilateral transport policy, law, criteria, plan, implementation and regulation;
Dry Ports, International Container Rate Station, Clearing / Undertaking Service, Cargo Warehouse Policy and Operations;
Regulations of international trade firm and institutions;
Development, Development and Operation of Physical Preventions of National, International, and International Trade;
Consumer and essential items and supply, distribution, cost control, quality and monitoring of the policy, law, criteria and regulations;
Consumer Rights, Law, Criteria and Regulation of Consumer Rights and Promotion;
National provision of essential items (buffer) public warehouses and national level essential supplies and information collection, analysis, launch and supply arrangement;
processing, processing, storage, quality assessment, cost retention, supply, infrastructure development and regulation of petroleum products;
internal market management and competitiveness and policy, law and regulation of syndicate and carteling control;
Public Institute, Authority, Committee, Establishment, Company Operation and Regulation of Ministry related to Ministry;
Operating related services, groups and sub-group operations with the subject of ministry.