There are many different opinions how the name was given 'Nepal' to this country. Here is some opinions.
1. In the Tibetan language 'Ne' means 'home' and 'pal' means 'wool'. So Nepal means 'home of wool'. This name was given because plenty of wool was produced from sheep and goats (chyangra" in the northern part of this country.
2.It is said that this country was named Nepal after the name of the sage 'Ne'. He practiced penance in the Kathmandu Valley at the confluence of the Bagmati and Vishnumati. He was also the patron of this country.
3. Some people say that this name was given because of the location of the country in central Asia. The Newari word 'Ne' means 'centre' and 'Pa' means country . So 'Ne Pa' means a country situated in the centre part of Asia.
4. Some people say that the Chinese called our country 'Nipolo' from which 'Nepal' was derived.
5. In ancient times, this country was ruled over by the kings of Gopal dynasty. They were called 'Nepa'. So, this country was known as Nepal.
6. According to the Gandaki Mahatmya, our country was ruled over by a mighty king named 'Nepa'. It was he who named this country Nepal.
7. t is believed that 'Nepal' was derived from 'Newar' , and ancient tribe that had been living in the valley for hundreds of years.
8.In the Lepcha language, 'Ne' means 'sacred' and 'pal' means 'cave.' So Nepal means a sacred cave, that is, a sacred place. It holds true because Nepal is religiously a sacred place visited by Hindu and Buddhist pilgrims.
9. According to Thomas Young and George Griharson, the word 'Nepal' and 'Newar' are derived from the root ' Nyarva'. Nyarva was turned into Newar and Newar into Nepal.