New Delhi, June 30 (KNN) Telangana government is planning to allocate a dedicated fund for MSMEs in the manufacturing sector in next year’s budget, said Telangana IT and industries department principal secretary Jayesh Ranjan.

He made the above remarks while addressing an event of Confederation of Indian Industries (CII) on trends in additive manufacturing.

Addressing the gathering, he said this fund will help MSMEs in the state adopt cutting edge technologies and new manufacturing practices.

“There are about 70,000 MSMEs in the state. While some are doing cutting edge work, many are still stuck in the 19th century and continue with outdated manufacturing practices. We would like to engage with them,” he added.

To help MSMEs in providing latest technologies, he said government has decided to work in this area by following the Singapore government’s model where they help MSMEs by investing in technologies.

In this regard, government is in the process of identifying around five to six sectors where MSMEs are facing a tech gap and the government can work with them to address it.

Thus in order to bridge the technological gap of MSME units, the government will conduct training programs, invest in new technologies and link them with giant players, said Ranjan, urging MSMEs to take advantage of the existing schemes and policies of the government.