Telangana boosts MSMEs: 5-Year plan launched
Hyderabad: The Telangana Government has launched a groundbreaking Micro, Small, and Medium Enterprises (MSME) policy for the next five years 2024-2029. The policy aims at revolutionizing the sector and positioning the state as a leading exporter in India. It outlines a strategy to support MSMEs from ideation to growth, with a focus on inclusive development and adoption of Industry 4.0 technologies.
Over the next five years, the government plans to reach 25,000 new MSMEs and support 15,000 SC/ST and women entrepreneurs. Further around Rs. 4,000 crores investment has been earmarked to build inclusive businesses and usher in Industry 4.0.
The policy will be operationalized through three streams- implementation, industry engagement, and support. Moreover, the Telangana Government will establish a dedicated MSME wing under the Commissioner of Industries to ensure efficient implementation. This wing will comprise one Joint Director, two Assistant Directors, and four Industrial Promotion Officers. At the District level, the General Manager of DICs will assign an MSME coordinator to addressMSME-related issues. These dedicated officers will focus on accelerating growth, delivering reforms, implementing digital interventions, and providing grievance support.
MSME policy promises transformation in Telangana
“The Telangana Government’s 2024 MSME policy promises to revolutionize MSME facilitation for ideation, establishment, successful operation, and growth to become the best in the country. It facilitates SHGs to transition to MSMEs by providing end-to-end support. This policy strengthens our position as a leading exporter with an emphasis on import substitution,” reads the MSME policy booklet titled ‘Telangana MSME policy 2024’ released on Wednesday..
With this policy, the Telangana government aims to create quality jobs for the state’s youth and establish the most vibrant MSME ecosystem in the country. The initiative is expected to drive sustainable growth, foster innovation, and enhance the competitiveness of Telangana’s MSME sector nationally. As the policy unfolds over the next five years, it will transform the MSME landscape in Telangana.
