Telangana Chief Minister A Revanth Reddy.
Credit: PTI Photo
Hyderabad: The Telangana government released the MSME policy on Wednesday, which included dedicated industrial parks for women and startups and a Rs 100 crore dedicated fund for technology transformation of MSMEs.
The government of Telangana proposed to develop one industrial park in each district within the next five years. In addition, the government will construct 10 industrial parks between the Outer Ring Road and the Regional Ring Road. Out of these 10 industrial parks, 5 will be MSME parks. In each MSME park, 5 pieces of plots will be reserved for women entrepreneurs, and 15 pieces of plots will be reserved for SC/ST entrepreneurs.
Out of the 5 MSME parks between ORR and RRR, one park will be built exclusively for women-owned MSMEs, and one park will be built exclusively for innovative startups. These parks will have in-built facilities like hostels, creches, toilets, testing centres, and research and development centres.
Under the policy Telangana government will constitute the Yantram Fund-a special fund for technology transfer and modernisation in the MSME Sector to encourage the adoption of innovative and effective processes and machinery that will accelerate productivity of MSMEs in the state.
The government will allocate Rs 100 crore over the next four years to the Yantram Fund. The Fund will be operationalised within a period of six months from the publication of this policy.
The MSMEs run by SC/ST entrepreneurs are currently given a 33 pc rebate with a cap of Rs 30 lakhs on land cost under T-PRIDE scheme. The government will increase the cap to 50pc limited to Rs 50 for SC/ST entrepreneurs. For other MSMEs, the government will introduce a new formula to make land available as close to cost price as feasible without reducing the rebate benefits currently offered under T-IDEA. MSMEs are currently given 100pc reimbursement on stamp duty payable on the purchase and lease of land for industrial use under T-PRIDE and T-IDEA policies. The Government of Telangana will continue to do so.
While launching the MSME policy on Wednesday, chief minister A Revanth Reddy said that industries minister D 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. It is the reason the government announced the MSME Policy, he added.
“The current government introduced the new policy while continuing the policies of the previous government. Politics will not take place in the development process hence it is a continuous process. The Congress party will pursue the good programmes and schemes without giving any scope to politics. My government will also not hesitate to scrap the earlier decisions which are detrimental to the state's interest,” the chief minister said.
He also added that there is a big gap between the educational standards and the industrial requirements. It is the reason 65 ITI institutions have been upgraded as advanced technology centers. Modernizing the institutions jointly with Tata Institute at a cost of Rs.2400 crores.
More employment opportunities will be generated in the state only with strengthening of the MSMEs. Government will provide all out support to the MSMEs in the state, said Revanth Reddy.