New Delhi, Aug 25 (KNN) The Telangana government is going to set up the world's largest industrial park for life sciences, said Jayesh Ranjan, Principal Secretary of the Industries & Commerce (I&C) and Information Technology (IT) Departments.

According to a news report by Zee Business, Ranjan participated at the MSME National Summit and Awards 2021 on Tuesday, where he laid special emphasis on the life sciences and pharmaceuticals sectors.

''The government is going to set up the world's largest industrial park for life sciences,'' he added.

According to him, the industrial park will be spread over 20,000 acres and will be known as Hyderabad Pharma City. A major part of the park will be reserved for MSMEs. Along with this, common facilities will also be made available for them.

During the conversation with Zee Business, Ranjan also spoke about liquidity and cash flow of MSMEs, where he stated that during the first wave COVID, entrepreneurs had to face many problems in their businesses. Along with this, a significant impact was also seen on the supply chain.

He said that even on the workforce front, entrepreneurs had to face problems. But during the second wave, where most of the states were under lockdown, Telangana, taking the cue from the first wave’s experience, decided to keep the industries running in the state.

He further said that in a bid to provide handholding to MSMEs that are present in the IT industry in the state, the government has taken various steps to provide relief to the MSMEs of this sector in this situation. The relaxation on property tax, electricity charges are included. At the same time, MSMEs operating from IT towers in the state have been given relief on the rent front in government buildings.

''Due to which the government has waived the rent of these MSMEs for a stipulated time,'' he added.

Speaking on skills, Ranjan said that MSMEs have to struggle with quality skills while competing in the domestic and global markets adding, ''In such a situation, the state government is giving special emphasis on this issue through the skilling program.''