Telangana government to establish six new industrial parks under MSME-2024 policy

HYDERABAD: The Telangana government announced plans to establish six new industrial parks and upgrade 12 existing ones as part of its MSME-2024 policy, aimed at revitalising the state's micro, small, and medium enterprises (MSMEs).

Chief Minister A Revanth Reddy unveiled the policy on Wednesday and highlighted its focus on enhancing rural infrastructure and creating employment opportunities.

The Telangana Industries Infrastructure Corporation (TGIIC) had earmarked 2,700 acres for developing MSME-focused parks, especially in rural areas, where 56% of such enterprises were concentrated. The policy sought to address key challenges that MSMEs faced, including insufficient working capital, infrastructure deficiencies, and workforce shortages exacerbated by the COVID-19 pandemic.

The MSME-2024 policy outlined financial incentives and improved facilities to help revive struggling units. Telangana's MSME sector experienced a slowdown in recent years, with only 19,954 new units established in the past decade. The government aimed to reverse this trend by providing targeted support to these enterprises.

The Chief Minister lauded Industries Minister Sridhar Babu for his significant role in formulating the policy to promote MSMEs. He emphasised the importance of maintaining a robust policy framework to accelerate the state's industrial development. The government committed to continuing successful programs from previous administrations while discontinuing policies that had not yielded the desired outcomes.

In a bid to improve the skill set of the workforce, the government has decided to upgrade 65 Industrial Training Institutes (ITIs) into advanced technology centres in collaboration with Tata Institute for Rs 2,400 crore. The state government would also establish the Young India Skill University to provide youth with industry-relevant skills. A corpus fund of Rs 300-500 crore is being set up to manage the university, with donations from industrialists.

Under the new policy, women’s Self Help Groups (SHGs) would receive greater support. A dedicated three-acre marketing facility was established at Shilparamam in Hyderabad to promote SHG products. Additionally, these groups were entrusted with managing Amma Adarsh Schools and stitching school uniforms, with the payment per uniform increased from Rs 25 to Rs 75.

Revanth Reddy assured that the new MSME policy would create a favourable environment for business growth and generate employment across the state, particularly in rural regions. The government also plans to transform Hyderabad into a life sciences and pharmaceuticals hub by establishing a Life Sciences and Greenfield Pharma City.

Additionally, as part of its broader industrial strategy, the state government undertook efforts to revitalise the River Musi as a man-made attraction, reflecting its commitment to inclusive development. The Chief Minister reiterated that these initiatives were driven by a genuine desire to empower Telangana's youth and boost economic growth, not political motives.