Telangana Unveils Draft MSME Policy, Seeks Industry Feedback

(MENAFN- KNN India) Hyderabad, Jun 18 (KNN) The government of Telangana on Tuesday released the draft Telangana MSME Policy 2024 and invited feedback from industry stakeholders.

The proposed policy aims to accelerate the growth of micro, small and medium enterprises (MSMEs) in the state over the next five years.

Key targets outlined in the policy include enabling 20 per cent of MSMEs to graduate into the medium enterprise category, creating new jobs in Telangana's top industries contributing to GDP, and improving the state's ranking on the Export Preparedness Index.

To achieve these goals, the draft policy proposes a range of measures spanning access to finance, land, raw materials, labor, technology, markets and infrastructure for MSMEs.

Facilitating access to capital through initiatives like subsidies for credit ratings, enabling revenue-based financing models and promoting reverse factoring are some of the proposals.

The policy draft also recommends setting up common facility centres for testing raw materials, onboarding MSMEs to B2B platforms, and technical assistance for exports.

Measures to encourage technology adoption include cost subsidies for products like 3D printers and organising workshops to connect MSMEs with tech providers.

Other key proposals involve rationalising restrictive regulations, incentivising green construction, drafting policy for private industrial parks and warehousing, and reforms to apprenticeship rules and night work policies to improve access to labor.

The state industries department has invited feedback and suggestions from the public and industry bodies on the draft policy proposals. A final policy incorporating the inputs is expected to be notified later this year.

(KNN Bureau)


KNN India

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.