HYDERABAD, SEPTEMBER 18, 2024: Chief Minister A Revanth Reddy has formally unveiled a policy dedicated to promoting Micro, Small and Medium Enterprises (MSME) and generating more employment opportunities in the Telangana state.
The Chief Minister along with Deputy CM Mallu Batti Vikramarka, Minister for IT and Industries Duddilla Sridhar Babu and others launched the MSME 2024 policy in the presence of industrialists in Hyderabad on Wednesday.
Speaking on the occasion, the CM said that former Prime Minister PV Narasimha Rao took many initiatives to overcome the financial crisis faced by the country with foresight. Mr Rao introduced economic reforms and liberalized the industrial policies to bring the Indian economy on the right track. The former PM brought the policies to compete India with the world, he added.
Similarly, the CM said that Minister Sridhar Babu is the brain behind introducing the MSME policy to promote micro, small and medium industries. Sridhar Babu’s efforts are commendable. Without a policy document, no state will develop. That is the reason the government announced the MSME Policy, he added. “More employment opportunities will be generated in the state only with the strengthening of the MSMEs. The Government will provide all-out support to the MSMEs in the state”, he remarked.
Towards improving access to affordable land, the new policy said five of the 10 new industrial parks to be developed between the existing Outer Ring Road and the proposed Regional Ring Road will be exclusively for MSMEs. One will be reserved for women-owned MSMEs, while another will be for innovative start-ups.
In all new industrial parks, 5% of plots will be reserved for women and 15% plots for SC/ST entrepreneurs. The land cost rebate for SC/ST entrepreneurs will be 50% with a cap of 50 lakh. The government also intends to encourage the development of private flatted factory complexes and industrial parks, by offering stamp duty discounts and rebates on the land cost. It will construct flatted factories with in-built facilities for women across 119 constituencies, particularly encourage SHG women members to set up small businesses.
There is a big gap between the educational standards and the industrial requirements, he said and added that they upgraded 65 ITI institutions as advanced technology centres and modernizing the institutions jointly with Tata Institute at a cost of Rs.2400 crores.
Young India Skill University has been established after conducting a thorough study. The university will train the youth and impart skills to meet the industrial requirements, he said and added the Government will set up a Corpus fund with Rs 300 crore to Rs 500 by seeking donations from the Industrialists for the management of the University. The government finalized modalities to spend the funds for the maintenance of the university.
“Future City is coming up in Hyderabad. We will set up Life Sciences and Greenfield Pharma City in the Future City. Musi River will be developed as a manmade wonder by removing the impression of the river being a dirty pool”, he maintained.
Envisaged plans to promote the women Self Help Groups (SHGs) as Millionaires. A new marketing facility has already created to promote the products of the SHGs on 3 acres of land at the famous Shilparamam in Hyderabad. SHGs have been entrusted with the responsibility of the management of the Amma Adarsh Schools and also gave orders to the groups for stitching the schools uniforms. The women groups are supported by increasing the charges of the stitching of uniforms to Rs 75 from Rs 25, he said.
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