Telangana Government to Disburse Rs 400-500 Crore in Industrial Subsidies

Hyderabad, Mar 8 (KNN) In a move to boost the industrial sector, the Telangana government has announced plans to clear the long-pending backlog of industrial subsidies.

The state will disburse Rs 400-500 crore to industries by the end of this month, addressing dues that have been pending since 2014, according to Industries & IT Minister Duddilla Sridhar Babu.

Speaking at the launch of ‘MSME Spark 2.0’ organised by the Federation of Telangana Chambers of Commerce and Industry (FTCCI), Sridhar Babu reaffirmed the government’s commitment to fostering the growth of micro, small, and medium enterprises (MSMEs).

To achieve this, the state has introduced a dedicated policy framework aimed at enhancing the global competitiveness of these enterprises.

The minister stated that comprehensive operational guidelines would soon be released to facilitate the effective implementation of these policies.

“As part of our vision to strengthen Brand Telangana internationally, we will establish specialized MSME clusters. These clusters, developed in collaboration with industry experts, will ensure global benchmarking and enhance the sector’s efficiency and competitiveness,” he said.

Highlighting the critical role of MSMEs in the state’s economy, Sridhar Babu urged banks to adopt a more supportive approach in providing financial assistance to entrepreneurs.

He assured that the government would actively intervene to ensure access to credit and other necessary resources for MSMEs to thrive.

The minister also criticized the previous BRS government for neglecting the MSME sector, stating that despite repeated appeals, no significant measures were taken.

“Since assuming office, we have prioritised MSME growth, recognizing their vital contribution to Telangana’s industrial landscape,” he added.

With these initiatives, the Telangana government aims to provide much-needed support to MSMEs, strengthening their role as a key driver of economic growth in the state.

(KNN Bureau)