Govt to come up with new industrial policy soon: Sridhar Babu

IT and Industries Minister D Sridhar Babu Plans New Industrial Policy for State Growth

Hyderabad: IT and Industries Minister D Sridhar Babu on Wednesday announced that the State government would soon come up with a new industrial policy, to bring a visible change as assured during the recent Assembly elections. He also promised support to MSMEs (Micro, Small and Medium Enterprises) which are struggling for survival after suffering severe brunt during Covid-19 pandemic.

During an interaction with the representatives of various industry chambers including FTCCI, FICCI, CII, FTSAC, DICCI and eminent individuals persons from different industries here on Wednesday, the Minister reiterated the State government’s commitment to encouraged industrial growth. He outlined a three-fold strategy for industrial development, targeting urban clusters, regional clusters, and semi-urban clusters.

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“The plan aims to create job opportunities and enhance economic prospects for the State. Additionally, we also make a key announcement regarding development of a dryport, with a focus on areas connecting Nalgonda and the Old Mumbai Highway,” he said.

Addressing concerns over job creation, Sridhar Babu assured that, while the government is committed to fulfilling the promise of providing two lakh government jobs, efforts will be intensified to generate additional employment by promoting industrial growth. He urged industrialists to actively contribute to this initiative.

Highlighting Hyderabad’s industrial prowess, he cited examples such as vaccine production and missile manufacturing, positioning the city as a global player in the pharmaceutical and defense sectors. On the recent controversy over the State government encouraging Adani Group’s expansion in Telangana even as Congress leader Rahul Gandhi criticised Gautam Adani, he clarified that the Congress party aims to provide opportunities for entrepreneurs and focuses on overall development of the State.