Telangana To Adopt Sectoral Industrial Policies For Msmes, Textiles, Exports, Life Sciences, EV & Green Energy
Date
5/22/2024 2:30:59 PM
(MENAFN- KNN India) Hyderabad, May 22 (KNN) The Telangana government is set to adopt six new industrial policies aimed at boosting the state's manufacturing sector and economic growth.
This comes after Chief Minister A. Revanth Reddy reviewed industrial development in the state and called for policies to help Telangana better compete with other countries.
During a meeting with officials from the Telangana State Industrial Infrastructure Corporation, Reddy emphasised the need for a revamped industrial strategy.
He advised formulating policies specifically to benefit powerloom and handloom workers to promote the textile industry.
The six new policies to be finalised before the upcoming election code period include an MSME Policy, Export Policy, New Life Sciences Policy, Revised EV Policy, Medical Tourism Policy and Green Energy Policy.
Reddy directed the officials to study best practices from industrial policies in other nations while drafting the new initiatives.
He stressed that modern policies were crucial for Telangana to attract more investment and accelerate industrial growth across multiple sectors.
Officials briefed the Chief Minister on the proposed policies, which are expected to focus on areas like incentives for small businesses, boosting exports, leveraging Telangana's strengths in life sciences and medical tourism, promoting renewable energy adoption and creating an conducive environment for electric vehicle manufacturing.
(KNN Bureau)
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