Telangana to aid MSMEs: K T Rama Rao

Sat 05 Oct 2019, 10:50:01
Telangana is looking at ways to support the MSMEs in the State. The government is soon going to issue an order that will enable MSMEs in Telangana to get a deferred payment for acquiring land in industrial parks, with a nominal interest. 

Addressing the industry captains at the CII’s Southern Regional Council Meeting in Hyderabad on Friday, IT and Industries Minister K T Rama Rao said the Industry Secretary Jayesh Ranjan has already made necessary changes and a final order will be issued soon.

The Minister observed, “MSMEs struggle as banks invoke The Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (also known as the SARFAESI Act).”

Telangana has already created industrial health clinics to help medium enterprises to achieve turnaround.

Highlighting the measures taken by the government to ensure ease of doing business in the State, KTR said Telangana has been doing well in industries with an extremely attractive industrial policy by doing away with the bureaucracies. Explaining that the TS-iPASS initiative has enabled faster approvals to the industry for their projects, he said, such initiatives had never been tried or implemented by any other State in the country as well as any region worldwide. This has resulted in massive job creation.

On the EODB front, he said, the State has been ranked number two in the country last year. The State is taking all the measures to achieve growth not only in Hyderabad but also in rural areas and the hinterlands of the State.

“We have also topped in the country in terms of office space absorption attracting global names. IT sector has grown 17 per cent well above the national average. IT exports have grown at a healthy rate. We are attracting investments in IT in the districts as well. We are also creating industrial parks in the State. 

Our priority sectors had been IT, life sciences, aerospace and defence besides other select sectors. We have acquired 8,000 acres for the Pharma City and we will be acquiring 2,000 acres soon. We are also creating a textiles cluster in Warangal. Textiles is a huge employment generator. We have come out with Telangana Apparel and Textiles Park. This will be a major job multiplier. We are also attracting companies in the medical devices space. Sahajanand is setting up a large sent making facility in the State,” he added.

The State has three aerospace parks and is in the process of creating two more soon. In the space research too Hyderabad has contributed to the Managalyaan Mission. Agriculture and agro-processing too are key sectors for the State that has seen good growth in paddy production.

Telangana wants to compete with Malaysia, Indonesia, Korea, China and Japan. The State want to tap exports opportunities and is in the processing of creating a dry port.

Mentioning that Prime Minister Narendra Modi has sought the ideas and suggestions from the State government for making Naya Bharat, he said, representing the TRS Party, he has made recommendations to focus on innovation to disrupt sectors, infrastructure investments, inclusive growth and internationalisation in terms of partnerships to achieve growth.

Talking about initiatives to boost entrepreneurship, he said, “In six months from now, we will be unveiling the second phase of T-Hub called Reactor, which will be the world’s largest incubator and T-works in the next three months. We have also launched India’s only women entrepreneur hub through WE-Hub.”

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