Pending incentives to be released soon, chunk for MSMEs: TG Industries dept. official
The Hindu
Telangana to release pending incentives for industries, with a focus on supporting MSMEs, as part of state government's initiatives.
Telangana plans to release pending incentives to industries soon and in doing so intend earmarking a chunk, of each tranche, for micro, small and medium enterprises as part of the State government’s focus on supporting MSMEs, a senior official in the Industries Department said here on Wednesday.
The government is planning to release the incentives ‘very soon’. The maximum share of the incentives released will be earmarked for MSMEs, Director of Industries G. Malsur told a gathering of Federation of Telangana Chambers of Commerce and Industry (FTCCI) members.
The incentive due to industries in Telangana since 2016 is ₹4,250 crore, he told the meeting on the MSME Policy and launch of the poster of the 6th edition of FTCCI HR Awards for MSMEs and large companies.
Seeking to highlight the government’s stress on promoting MSMEs, he said the enterprises contribute significantly to economic and social development of the country Telangana’s MSME Policy, launched in September, is the first such. The associated guidelines will be issued soon, he said.
A number of additional measures providing impetus to MSMEs is on the cards, including creating exclusive parks for MSMEs in the districts. There are plans to identify export-oriented units and handhold them in terms of training and facilitating overseas market access. MSMEs which are into import substitute products will also be identified and helped, he said, adding “the Industries department is facilitator and not the regulator. You can freely approach us.”
Joint Director (Planning) in the Commissionerate of Industries Madhukar Babu elaborated on the MSME policy details. “This is the first time we have a policy exclusively for MSMEs,” he said. Telangana has 26 lakh MSMEs of which 10 are UDYAM-registered.
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