MSME Policy Will Create More Jobs: Sridhar Babu

Hyderabad:Industries and IT minister D. Sridhar Babu said that the new MSME policy will create jobs for youth. He averred that the government cannot create jobs beyond a point for the 20 to 30 lakh unemployed youth in the state.

Participating in a discussion on ‘The Future of MSMEs in Telangana: Insights Into The New State MSME Policy’ at the CII centre in Madhapur, he said, “The main concern of MSMEs is with regard to banks, which have to provide them capital and the collateral that is sought from them. The central government is thinking of giving loans without collateral up to `five crore.”

“The stage is set for embracing AI and we should be ready to meet the needs of the world. We are mulling opening AI hubs to help people access information. The government will release `4,000 crore in phases to MSMEs that have been pending for the past five to six years,” he said.