Corpus fund to address sickness of SMEs

Discussions underway, final policy decision likely in a fortnight

Updated - April 30, 2016 05:35 am IST

Published - April 30, 2016 12:00 am IST - HYDERABAD:

A policy decision is likely soon on the corpus fund proposed by Telangana Government for addressing incipient sickness in small and medium enterprises.

Discussions are underway on different aspects, from size of the fund to the participants. A final policy decision may be taken in a couple of weeks, Telangana State Industrial Infrastructure Corporation Vice-Chairman and Managing Director E.V. Narasimha Reddy said on Friday.

Industries Minister K.T. Rama Rao was working on the fund, the official said, adding that talks had been held with prospective investors and public sector undertaking. It was, however, too early to talk about the corpus size, he told presspersons at an MSME workshop by industry body FICCI. Earlier, he told the meeting that it could be Rs.100-crore fund.

The State industrial policy framework, mooting the fund, said it was to be created with industries and their associations and act as a safety net for the SMEs that face any crisis and run the risk of imminent sickness. Listing other measures aimed at the SMEs, Mr. Reddy said that the Government would be coming out with guidelines for revival of sick SMEs. The TSIIC was developing infrastructure at industrial estates for the SMEs in Patancheru and Maheshwaram, he said. Spread over 300 acres each, they were to host new enterprises as well as those relocating from Hyderabad.

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