The Confederation of Nepalese Industries (CNI), a rival to the existing Federation of Nepalese Chambers of Commerce and Industries (FNCCI), says it has moved one step forward towards formalising the organisation. The CNI, whose most powerful proponent is former FNCCI chairman Binod Kumar Chaudhary, says it has finalised its constitution and is ready to complete the registration processes. In a recent press statement, the group says failure to renew the Nepal-India trade treaty before it expires on 5 December could have serious consequences.