Vaidhya and Sanghai emerge as key contenders in FNCCI Senior VP race

KATHMANDU: With the formation of the new executive committee of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), attention within Nepal’s private sector has now shifted toward the race for the powerful senior vice president position, widely viewed as the gateway to the future presidency of the federation.

Following the decisive influence established by incoming FNCCI President Anjan Shrestha and his panel in the recently concluded election, it has become increasingly likely that the next senior vice president will also emerge from the same camp. However, internal competition among influential business leaders within the faction has intensified, making consensus more complicated than initially expected.

At the center of the contest are Sur Krishna Vaidhya and Ram Chandra Sanghai, both of whom have accelerated internal lobbying efforts after the election results.

Before the election, senior vice president aspirants Sur Krishna Vaidhya, former vice president Dinesh Shrestha and Ram Chandra Sanghai had reportedly reached an informal “gentlemen’s agreement” that whoever demonstrated stronger electoral strength from their respective constituencies would be supported for the senior vice president position.

The election outcome, particularly in the associate and district-municipality categories, significantly strengthened the camp aligned with Anjan Shrestha. As vote counting concluded, both Vaidhya and Sanghai intensified negotiations with the new leadership in an effort to secure backing ahead of the executive committee selection process.

Political signaling within the federation was visible even during the final announcement of results. While outgoing President Chandra Prasad Dhakal, senior vice president candidate Hem Raj Dhakal and Anjan Shrestha were frequently seen together during the counting process, Ram Chandra Sanghai’s visible proximity to Shrestha during the formal declaration of results was interpreted by many within the federation as a sign of his growing internal confidence and possible strategic alignment.

At the same time, Sur Krishna Vaidhya publicly declared himself a strong claimant for the post, arguing that the federation’s statute allows broad competition among eligible former office bearers and long-serving executive members.

Speaking after the election results, Vaidhya indicated that if internal consensus fails, the race could eventually move toward a formal contest within the executive committee.

The absence of a publicly declared senior vice president candidate before the election has now become a major talking point. When Anjan Shrestha unveiled his panel on Chaitra 9, he openly endorsed candidates for commodity vice president, associate vice president and district-municipality vice president positions. However, no official candidate for senior vice president was announced at that time.

Analysts inside the federation believe that omission was strategic. By avoiding an early commitment, Shrestha preserved room for post-election negotiations and internal power balancing among senior industrialists and business houses.

The election arithmetic currently favors the Shrestha-aligned bloc. In the associate category, the panel led by Associate Vice President-elect Prabal Jung Pandey secured overwhelming success, with most executive members from his side winning comfortably. The district-municipality category also produced a near sweep for candidates aligned with the Shrestha camp.

This strong numerical advantage is critical because FNCCI’s statute mandates that the senior vice president is elected internally by the executive committee rather than through direct voting by the broader membership. As a result, control over executive committee numbers effectively determines the outcome.

The rival faction led by Hem Raj Dhakal did secure an important victory in the commodity sector where Naresh Lal Shrestha defeated Anjan Shrestha-backed candidate Shiv Prasad Ghimire. The commodity sector also produced a mixed executive committee result, preventing a complete dominance by one side.

Still, the broader electoral picture suggests that the Shrestha camp remains structurally stronger in the internal decision-making process.

The senior vice president position carries exceptional significance inside FNCCI because of the federation’s succession model. Traditionally, the senior vice president later becomes president, making the current selection a decisive indicator of who could lead Nepal’s most powerful private-sector institution in the coming years.

Business insiders say the ongoing negotiations are not only about personal ambition but also about balancing industrial, commercial and regional interests within the federation. Various business groups are reportedly pushing for representation aligned with their sectoral influence, financial networks and long-term strategic interests.

Observers also note that Anjan Shrestha now faces a delicate political management challenge. While his panel secured strong electoral legitimacy, managing competing ambitions within the victorious camp may prove more difficult than defeating rival factions during the election itself.

Anjan Shrestha has publicly stated that he wants the senior vice president to be selected through consensus among executive members and senior leaders rather than through confrontation. However, with multiple aspirants actively claiming support, the possibility of a competitive internal election still remains open.