The Congress government will soon announce a new industry-friendly policy to provide fresh impetus to industrial growth with necessary changes in rules and incentives to the Medium, Small and Micro Enterprises (MSMEs) as per the wishes of the citizens of Telangana, said Minister for IT and Industries D. Sridhar Babu on Wednesday.
Participating in an interaction meeting with the industrial bodies including the Confederation of Indian Industry (CII), Federation of Indian Chambers of Commerce & Industry (FICCI), Dalit Indian Chamber of Commerce &Industry (DICCI) and others, the Minister said people of Telangana wanted a change in governance and similarly, the government is determined to make wholesome changes in the industrial policy to encourage entrepreneurship across all districts.
The government will take in suggestions and feedback from the industry before formalising the proposed new industrial policy including formation of urban clusters, regional clusters and semi-urban clusters for setting up of new industries. A decision on setting up of a dry port too will be examined, he said.
Mr. Sridhar Babu had pointed out the Congress governments over the decades had brought forth many reforms to encourage industries and were instrumental in establishing giant public sector units like BHEL, DRDO, Midhani and others which in turn led to growth of ancillary industries.
These industrial policies along with the economic reforms initiated by former Prime Ministers P.V. Narasimha Rao and Manmohan Singh in the 90s had generated lakhs of jobs in both the public and private sector over the decades. The Minister said the Congress party had promised two lakh jobs before the elections and is determined to fulfil the promise. The effort will also be to encourage industrial growth so that the jobs generation increases multifold, he said.
In this context, Mr. Sridhar Babu urged the industrial bodies to join hands with the government in its endeavour, especially to promote young entrepreneurs as part of the ‘Vision 20250’ as enunciated by Chief Minister A. Revanth Reddy. Hyderabad had played a prominent role in the development of the indigenous COVID-19 vaccine and has been a pharma industry hub. The fact that missiles produced in the city are being supplied to Israel showed the extent of growth and development but the previous government had pushed TS into a debt trap, he charged.
