TG launches MSME policy with Rs 4,000 cr investment

Samuel Joshua
Telangana Chief Minister A Revanth Reddy launched a new MSME Policy- 2024 to tackle six key challenges faced by Micro, Small, and Medium Enterprises (MSMEs). The policy involves a Rs 4,000 crore investment over five years. The launch took place at Shilpakala Vedika on Wednesday, with Deputy Chief Minister Mallu Bhatti Vikramarka, IT Minister D Sridhar Babu, Special Chief Secretary Jayesh Ranjan, and several industry leaders and officials in attendance.
Addressing the gathering, Chief Minister Revanth Reddy appreciated former prime minister PV Narasimha Rao’s policies for opening India’s economy through liberalisation, privatisation and globalisation (LPG).
He commended the IT Minister for making industrial opportunities accessible to Dalits and women, and for encouraging MSMEs. Revanth assured that his government will fulfill the previous administration’s incentive promises, regardless of political changes.
Later, Revanth Reddy highlighted the gap between education and jobs, noting a shortage of skilled workers. He mentioned that CREDAI and NAC reported job availability but a lack of skilled employees. He said discussions with TATA led to a plan to upgrade Industrial Training Institutes (ITIs) with Rs 2,400 crore investment, of which only Rs 300 crore has been sanctioned by the State government, while TATA has invested Rs 2,100 crore through CSR funds for training and employment in Telangana.
Revanth also discussed plans for a Young India Skill University, run by industrialists with Mahindra Group’s Anand Mahindra as chairperson. He announced a corpus fund will be collected from industrialists through a planned get-together. He emphasised that the skill university will help address the unemployment issue of young graduates and boost the state’s GDP. He called agriculture “our culture” and encouraged people to study, start businesses, or become entrepreneurs for financial stability and promised further skill development and technology upgrades.
Meanwhile, Minister for Information Technology, Electronics, Communications and Industries, D Sridhar Babu, said Telangana will become technology-driven and will attract attention. He emphasised that growth should extend beyond Hyderabad to other districts as part of the policy. He announced a new skill training programme for the banking and finance sector and noted that industrial parks will be established in all districts, with 5% for women and 15% for SC/ST. Flat factories for women and 10 common facilities centers will also be set up.