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BusinessTelangana has turned policies into action: KTR

Telangana has turned policies into action: KTR

Published: 8th Dec 2020 11:46 pm

Hyderabad: Merely articulating a policy is not enough. India has many examples where brilliant policies were written but very little action followed on the ground and therefore they have not really taken off as they were expected to be. Telangana as a State has ensured that all of its policies are translated into action.

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“We in Telangana have made sure that the intent is translated into action by creating multiple institutions to take up this responsibility and drive forward in a professional manner. Over the last few years, we have created some world-class institutions such as the T-Hub, which is one of the shining examples of what a government and private sector can do together,” said Telangana Industries Minister KT Rama Rao on Tuesday.

Addressing the TiE Global Summit-2020 through video conferencing, KTR said, T-Hub which is the country’s largest technology incubator today will become the world’s largest technology space in a couple of months, in the form of Phase II. We-Hub on the other hand is focused on women entrepreneurs and is encouraging them.

T-Works, which is India’s largest prototyping facility will be up and running in next one month. “I encourage youngsters who are into creating solutions, particularly into hardware prototypes to come and dabble in this,” he added.

To establish a strong connect between industry and academia in Telangana, institutions such as RICH have been floated. To nurture innovation culture from a very young age, TSIC has been created to foster innovation, and Telangana is among the few States in the country to have a Chief Innovation Officer.

Talking about other initiatives, he said, ‘Intinta Innovator’ programme has encouraged several innovations and in the recently held Assistive Technology Summit, several products and prototypes had been showcased by over 50 innovators, such as prosthetic arms and tools that can help the blind or deaf.

TASK has been helping individuals and companies in skilling, upskilling and reskilling, responding to the entrepreneur’s entire business life cycle.

All these institutions today are run by individuals from the private sector. There are at least 100 success stories of these institutions collectively from different spheres and verticals, the Minister noted. “We also realise that there is a huge hidden potential in our rural community to generate useful ideas which can be converted into products and solutions to solve the pressing problems faced by the people of the country,” he further added.

He said Telangana Chief Minister always emphasises that technology and innovation should bring social good.

TiE global headquarters

“I am also happy to learn that TiE has decided to set up its global headquarters in Hyderabad. We will work with your office and team in ensuring that it becomes a reality soon. This is a very strong recognition, I believe, of the phenomenal work of all the innovation, entrepreneurship ecosystem and stakeholders led by the government have accomplished in the last six years,” KTR said.

Having TiE global headquarters in Hyderabad will further boost all the initiatives by the State government.

MSMEs are the backbone of Indian economy: Gadkari

MSMEs today play a crucial role in the Indian economy, contributing 30 per cent to the GDP and 48 per cent of the overall exports for the country, employing 11 lakh crore people. The government is keen to take the GDP contribution from MSMEs to 40 per cent, export contribution to 60 per cent and add 5 lakh crore jobs to the sector.

Addressing the TiE Global Summit-2020 through video conferencing, Nitin Gadkari, Union Minister for Road Transport and Highways and MSMEs, said, “Rural economy which is at Rs 80,000 crore today should go up to Rs 5 lakh crore in next two years. To make this happen, we are focusing on agriculture, rural and tribal segments. India has rich heritage in handloom and handicraft to tap export potential, which needs to be tapped.”

The government has taken reforms and decisions to support growth of MSMEs. The definition of MSME category has been changed and efforts are on to convert knowledge into wealth. New areas are being explored. Biofuels, food parks and organic farming are some of the areas the government is focusing, he added.

The government is planning 22 new greenfield expressways across the country to boost infrastructure. Electricity and water supply projects are also being taken up in additional labour reforms, which together will help MSMEs. The government is also easing registration process for these companies.

Automobile sector has a potential to grow. The sector today has a turnover of Rs 4.5 lakh crore. Ancillary industry is doing well. There is also momentum in the electric vehicle space. The government is also exploring hydrogen fuel cell, where new opportunities will arise.

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