Telangana Govt proposing to unveil new MSME policy, says Sridhar Babu

It is going to be a game changer. The idea is to help people turn entrepreneurs, especially by setting up MSMEs as they will provide more jobs. The plan is to unveil the policy in a month, said Sridhar Babu

Hyderabad: Industries Minister D Sridhar Babu said the State government was proposing to unveil a new MSME policy for promoting entrepreneurship and generating more employment opportunities for the youth.

“It is going to be a game changer. The idea is to help people turn entrepreneurs, especially by setting up MSMEs as they will provide more jobs. The plan is to unveil the policy in a month,” Sridhar Babu said to media persons here on Saturday.

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In tune with extending all support to MNCs, the State government would accord priority for MSMEs as well, he said.

Skill University being planned in Hyderabad

The Industries Minister said the State government was planning to set up a skill university in Hyderabad on the lines of the Indian School of Business (ISB). There would be regional skill centres in each Assembly constituency headquarters as well. The objective was to help youth learn more skills in tune with industry requirements. Already, Tata and Mahindra companies had evinced interest in partnering with the State government for setting up the skill university, he said.

“If things go as planned, admissions into the university will commence from the next academic year,” Sridhar Babu said.

Earlier in the day, Finance Minister Mallu Bhatti Vikramarka said micro and small industries play a major role in providing employment opportunities. The State government plans to develop clusters to establish micro and small industries and it would effectively tap funds under the union government’s Micro Small Enterprises Cluster Development programme, he said.