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BusinessTelangana making efforts to support MSMEs

Telangana making efforts to support MSMEs

Published: 31st Oct 2020 12:04 am

Hyderabad: Telangana State has an estimated 26.05 lakh MSMEs with micro-enterprises alone accounting for more than 25 lakh units and the remaining units are small and medium enterprises. “MSMEs require small investments with scope to create more jobs. In fact, they are the largest employers in the State after the agriculture and construction sectors. Hence, the State government is making all efforts to support the MSMEs to regain their strength and continue with their operations without any hitch,” an Industries department official told Telangana Today.

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Last week, the State government along with networking portal for small businesses, GlobalLinker, partnered with BSE in a bid to encourage MSMEs to go public to meet capital requirements. Apart from helping to address finance-related issues and enhancing the credibility of MSMEs, BSE will also offer ‘intellectual and manpower support’ to create awareness about the importance and benefits of listing.

Further, the State government constituted an advisory committee on ‘Telangana IT MSME on Promotion’ in September this year to provide timely support to IT MSMEs in various ways such as giving opportunities in government IT projects. The committee headed by Principal Secretary for IT and Industries Jayesh Ranjan, comprises members from Telangana State Technology Services, HYSEA, NASSCOM, and other organisations. The committee will be responsible for chalking out guidelines to ensure that all IT projects awarded by the government go to companies registered in TS.

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