Telangana's Commitment to Industrial Growth

In a significant move to bolster the industrial sector, the Telangana government has announced its commitment to clear a backlog of industrial subsidies worth Rs 400-500 crore by the end of the month. This initiative, led by industries & IT minister Duddilla Sridhar Babu, aims to support Micro, Small, and Medium Enterprises (MSMEs) in enhancing their competitiveness on a global scale.

Strengthening MSMEs for Global Competitiveness

During the inaugural of 'MSME Spark 2.0', organized by the Federation of Telangana Chambers of Commerce and Industry (FTCCI), Sridhar Babu unveiled plans to establish specialized MSME clusters. These clusters, developed in collaboration with industry experts, are designed to meet global benchmarks, thereby elevating the sector's efficiency and competitiveness.

Government's Role in Facilitating MSME Growth

Recognizing the pivotal role of MSMEs in the economy, the minister urged banks to adopt a more facilitative approach in extending financial support. The government has pledged to intervene actively to ensure the availability of credit and necessary assistance, aiming to resolve the challenges faced by MSME entrepreneurs, especially in accessing global markets.

Addressing Past Neglect

Sridhar Babu highlighted the previous neglect of MSME development in the state, despite their significant contribution to employment. He emphasized the current government's commitment to prioritizing MSME growth, acknowledging their crucial role in Telangana's industrial landscape and promising unwavering support to the sector.