Govt. committed to growth of MSMEs: Sridhar Babu

Govt. committed to growth of MSMEs: Sridhar Babu

Facilitating growth of micro, small and medium enterprises (MSMEs) is a top priority of the Congress government in Telangana, Industries and IT Minister D. Sridhar Babu said on Friday, even while accusing the previous BRS regime of neglecting MSMEs.

The development of MSMEs has long been neglected despite they being one of the largest employment-providers. During the COVID pandemic, the Congress, which was in the Opposition benches then, had asked the BRS government to focus on MSMEs. Despite repeated appeals, no concrete steps were taken, the Minister told the ‘MSME Spark 2.0’ conference, organised by the Federation of Telangana Chambers of Commerce and Industry (FTCCI) in Hyderabad.

Towards elevating the MSMEs in the State to global standards, the Congress government had in September last year introduced a dedicated policy framework to foster their growth and competitiveness. “We will soon release comprehensive operational guidelines to ensure its effective implementation,” the Minister said, citing the policy’s emphasis on being a vibrant and inclusive measure for the time taken.

As part of the vision to strengthen the Telangana brand on the international stage, specialised MSME clusters will be developed in collaboration with industry experts, ensuring they meet global benchmarks and enhance the sector’s overall efficiency and competitiveness, a note on the speech from the Minister’s office said.

Mr. Sridhar Babu urged banks to adopt a more facilitative approach in extending financial support. The government will actively intervene to ensure the availability of credit and necessary assistance. “We need to see behavioural change in the lower rung staff of the financial sector. Please don’t kill the spirit of young and budding entrepreneurs,” he said.

The Minister responded positively to FTCCI president Suresh Kumar Singhal’s suggestion for setting up MSME clusters in rural Telangana. Director of Industries G. Malsur will convene a meeting and act on the suggestion in the next one month, FTCCI said in a release on the conference.

On incentives disbursal to industries, pending since 2014, the Minister said it was disheartening to note that the previous government did not act. “We are sincerely working towards solving the problem in a phased manner,” he said.