During the regime of "Father of Nation" late His Majesty King Tribhuwan Bir Bikram Shah Dev and under the rule of Rana Prime Minister Juddha Shamsher, an institution named "UDYOG PARISAD" was created in B.S. 1992. It was, perhaps, the first government agency to look after the industrial activities and promote the ndustrial environment in the Kingdom of Nepal. The same year was marked with the promulgation of Company Law and an office named Nepali Cloth and Domestic Enterprise Publicity came into existence.
The democratic government formed in the year 1951 A.D. managed the modern type of bureaucratic structure in line with the Central Secretariat. During the same year, among other ministries, the Ministry of Industry, Commerce was also created.
The ministry of Industry, Commerce that was in existence since long time by single name, was separated in 2038 B.S. The jurisdiction of the then Ministry of Commerce was expanded in 2040 B.S. Under the expanded jurisdiction, it was given the responsibility of supply sector, bearing its name as "Ministry of Commerce and Supply". Again in the same year, the separate Ministry of Supply was created. In this way, three ministries i.e. Ministry of Industry, Ministry of Commerce and Ministry of Supply come into existence as different ministry.