CM Revanth to launch TG's first MSME policy today
Telangana is positioning itself as a leader in financial support for technological advancements in manufacturing, focusing on the specific needs of these industries
Hyderabad: Chief Minister A Revanth Reddy will release the state's first micro, small, and medium enterprises (MSME) policy on Wednesday.
A key highlight of the new policy is a Rs 100-crore technology upgrade fund, targeting sectors such as aerospace and defence, which are expected to benefit 60-70 per cent of the fund's recipients.
Telangana is positioning itself as a leader in financial support for technological advancements in manufacturing, focusing on the specific needs of these industries. In addition to financial support, the policy emphasises skills and talent development to further strengthen MSMEs' capabilities, aiming to accelerate industrial growth across key sectors in the state.
The policy is expected to include a focus on research and development (R&D), support for women entrepreneurs and streamlined land allocation norms. Stakeholders, including MSME bodies and entrepreneurs, have been invited to the launch event, where it is anticipated that the government will address long-standing concerns regarding pending industrial incentives, currently totalling Rs 3,200 crore.
Minister Sridhar Babu held consultations with various industry stakeholders to ensure that the framework addresses the needs and challenges of the MSME sector.