Telangana Govt to bring new paradigm to support Industries and Services sectors

A new policy on the anvil after thorough study of ground realities and feedback from stakeholders, announces Governor Tamilisai Soundararajan 

Updated - February 08, 2024 01:57 pm IST

Published - February 08, 2024 01:56 pm IST - HYDERABAD

Telangana Governor Tamilisai Soundararajan with Chief Minister A. Revanth Reddy at the State Legislative Assembly in Hyderabad on February 8, 2024.

Telangana Governor Tamilisai Soundararajan with Chief Minister A. Revanth Reddy at the State Legislative Assembly in Hyderabad on February 8, 2024. | Photo Credit: By Arrangement

Telangana Government has announced its intentions to bring a completely new paradigm to support Industries and Service sectors – two vital sectors of the economy that contribute significantly in creating new jobs.

The Government accordingly intends to introduce a new policy that will be based on a thorough study of existing ground realities, feedback from stakeholders and taking cognizance of global best practices. It is seen that Telangana has massive potential for propelling industrial and service sectors growth, but the potential has only been partly utilised, Governor Tamilisai Soundararajan said during her traditional address to the joint sitting of the legislature on Thursday.

The Governor said the State Government would provide high quality infrastructure and would come up with new systems to maintain infrastructure. Steps would simultaneously be taken to create skilled workforce from amongst local youth who could benefit from gainful employment in these sectors. “The Government intends to balance regional disparities which are starkly noticeable in Telangana,” she said.

A new MSME Policy

Several industrial units in the State were under the MSME category whose challenges and requirements were quite different from large industries. The Government would come up with a new MSME policy for helping them with improved technology, ability to recruit skilled manpower, financing, market access and prevention of industrial sickness. “An exclusive institutional mechanism will be set up to handhold MSMEs and support their grievances,” Dr. Tamilisai said.

Support to marginalised communities in entrepreneurship

The Government would take specific measures to encourage entrepreneurship and risk-taking in marginalised communities including SC, ST, BC and minorities when they chose to pursue entrepreneurial activities. The Government would provide special emphasis to sectors that had been under utilised as compared to their potential like leather and footwear, gems and jewellery, chemicals and plastic, high value food processing and electric mobility among others.

10-12 pharma village clusters proposed

Steps would be taken to create dedicated industrial parks and supporting ecosystems for each of these sectors. The Government would simultaneously support the champion sectors like IT and pharma. “My Government is proposing to set up 10-12 pharma village clusters of extents between 1,000 acres to 3,000 acres which will be away from habitations. These clusters will be self contained with facilities for effluent treatment, testing labs, logistics infrastructure and social infrastructure,” the Governor said.

The Governor recalled the recent visit of Chief Minister A. Revanth Reddy to Davos to participate in the World Economic Forum meeting wherein positive response was received from industry leaders who promised to invest Rs. 40,000 crore. MoUs were signed in the areas of renewable energy, life sciences, manufacturing, data centres and food processing among others.

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