August 17, 2024 8:52 PM.
Telangana State Industries Minister D. Sridhar Babu today said that the new Industrial Policy and MSMEs Policy will be brought out soon.
Addressing a media conference in Hyderabad, he said the proposed new policies will be investor- and industry-friendly. He also said that the state government is committed to the incentives provided to the industry by the previous government.
He said that all the policies of the previous government, which are pro-people, will be retained and new elements will be added with a focus on employment and skilling.
Mr. Sridhar Babu, who accompanied the Chief Minister during the recent tour, announced that the government would unveil a new industrial policy soon, with its focus on Micro, Small, and Medium Enterprises (MSMEs).
He emphasised the productivity of the tour, revealing that 19 investment commitments and Memoranda of Understanding were finalised, totalling ₹31,500 crore investments, which would create 30,750 jobs.
The Minister criticised the BRS government for failing to release ₹3,700 crore subsidy sanctioned for SC/ST entrepreneurs over the past decade. He assured that the new MSME policy, expected within weeks, would address such issues.
He also reaffirmed the government’s commitment to honouring all MoUs signed during the BRS rule, and appealed to investors not to worry considering the campaigns against the financial condition in Telangana. Amara Raja Energy and Mobility will continue its projects in Telangana despite minor concerns, he said.