Thursday, November 14, 2024

Rs 100 crore fund to support tech upgrades New policy for MSMEs on the cards in TG

Must read

Telangana, with six decades of legacy in defence and aerospace, is set to launch a new policy for Micro, Small and Medium Enterprises (MSMEs) on September 18. This policy also focuses on the defence and aerospace sectors, which make up 60 to 70 per cent of its users. It also includes a Rs 100 crore fund to support technology upgrades, making Telangana the first State to take this initiative, said Special Chief Secretary to the IT department, Jayesh Ranjan at the CII-TG Defence and Space Conclave.
Jayesh Ranjan addressed a fireside chat on the State government’s initiatives and plans to further strengthen the A&D sector. He emphasized that defence and aerospace are very important industries for Telangana. He mentioned five key responsibilities of the government, with the first being the creation of infrastructure. He cited the setting up of exclusive defence and aerospace industrial parks and the encouragement of private companies, such as JEH Aerospace, which has established a plug-and-play facility in Kothur, now used by 3 to 4 aerospace companies for manufacturing.
Jayesh Ranjan noted that many MSMEs have emerged with the growing technology in the State, but they struggle to invest in expensive real estate and facilities. This policy aims to address those needs. He highlighted the rapid advancements in technology, such as 3D printing, which has significant applications in the defence industry.
Regarding skills and talent, Jayesh mentioned that some MSMEs hesitate to use 3D printing due to uncertainty about investments. To address this, the government launched the Young India Skill University, offering industry-specific skilling programmes for the defence and aerospace sectors.

He also discussed incentives, stressing that most defence projects come to the State through competitive means, which is why Telangana strongly pitches incentives along with large investments for MSMEs.

- Advertisement -spot_img

More articles

- Advertisement -spot_img

Latest article