Hyderabad: Telangana Chief Minister Revanth Reddy emphasized the importance of supporting Micro, Small, and Medium Enterprises (MSMEs) for the state’s economic growth. He explained that the success of industries is key to Telangana’s development and announced the launch of the MSME Policy-2024. This new policy aims to help small and medium businesses grow.
Revanth Reddy stated that the government is fully committed to backing industries. He stressed that no sector can succeed without a strong policy, and the new MSME-specific policy will ensure full government support. Strengthening the MSME sector, he added, will create more jobs and employment opportunities across Telangana.
Looking ahead, the Chief Minister expressed confidence that the state’s budget would grow from ₹3 lakh crore to ₹7 lakh crore by 2028. He believes the MSME sector will play a key role in achieving this goal. He also urged MSMEs to actively participate in helping Telangana work towards becoming a trillion-dollar economy.
At the same event, Deputy Chief Minister Mallu Bhatti Vikramarka, along with Industries and IT Minister Duddilla Sridhar Babu, reaffirmed the government’s commitment to continuing industrial incentives. They also promised to clear pending subsidies. The Chief Minister further emphasized the need to support Dalit and tribal entrepreneurs by providing land, subsidies, and other benefits, such as electricity, to help them grow financially.
Revanth Reddy also discussed the state’s broader development plans, including the creation of Future City. This project will connect the Outer Ring Road (ORR) and Regional Ring Road (RRR) with radial roads to attract more investment. He pointed out that Telangana offers favorable conditions for investors, especially as many countries are adopting the China Plus One strategy, making the state an appealing alternative for global investments.
Lastly, the Chief Minister assured that the government is open to suggestions from all stakeholders. He said the administration is committed to inclusive governance, with the ultimate goal of ensuring the economic prosperity of Telangana.
