Telangana unveils MSME policy to address gaps in TS-iPASS

Telangana unveils MSME 2024 policy to address key challenges, offering land, finance, technology support, and industrial park reservations.

Telangana government has unveiled a policy dedicated to micro, small and medium enterprises (MSME 2024) outlining action plan to address their key, growth constraining challenges around land, finance, raw material, skilled labour, market access and technology.

First such in the State that the Chief Minister A.Revanth Reddy described as one of the earliest policy reforms introduced by the government, since assuming office in December 2023, the policy seeks to address gaps for MSMEs in the TS-iPASS policy.

As many as 40 measures to offer end-to-end support, from startup to sale phase, form part of MSME 2024 policy that the Chief Minister accompanied by Deputy CM Mallu Bhatti Vikramarka, Industries and IT Minister D.Sridhar Babu launched in the presence of industry leaders and entrepreneurs.

Five industrial parks

Towards improving access to affordable land, the new policy said five of the 10 new industrial parks to be developed between existing Outer Ring Road and the proposed Regional Ring Road will be exclusively for MSMEs. One will be reserved for women-owned MSMEs, while another will be for innovative start-ups.

In all new industrial parks, 5% plots will be reserved for women and 15% plots for SC/ST entrepreneurs. Land cost rebate for SC/ST entrepreneurs will be 50% with a cap of 50 lakh. The government also intends to encourage development of private flatted factory complexes and industrial parks, by offering stamp duty discounts and rebates on the land cost. It will construct flatted factories with in-built facilities for women across 119 constituencies, particularly encourage SHG women members to set up small businesses.

Spurring on with subsidy