Major boost to MSMEs amid Japanese aid
Jayesh Ranjan (C), Telangana Industry Secretary, with CII members and others during the 7th edition of CII MSME Summit, in Hyderabad on Friday
Hyderabad: The Telangana government is gearing up to introduce additional measures to support the growth of Micro, Small, and Medium Enterprises (MSMEs) in the State.
These initiatives are set to be launched in October, following the recent introduction of the MSME policy on September 18, 2024. The government’s efforts are further bolstered by significant external support. The Japan International Cooperation Agency (JICA) has extended a Rs 1,700 crore loan to the State, earmarked for MSME development. Additionally, 14 projects have been sanctioned by the World Bank under Centre’s RAMP scheme, and the Telangana Chapter of the Women Entrepreneurship Platform has been established.
These initiatives collectively aim to create a conducive environment for MSMEs to thrive in Telangana, contributing to the state’s economic growth and development. At the seventh edition of the MSME Summit, themed ‘Transforming MSMEs – Strategies for Growth,’ organized by the Confederation of Indian Industry’s Telangana chapter, Jayesh Ranjan, Telangana’s Special Chief Secretary for Industries, said, “The performance of MSMEs is assessed and ranked based on specific parameters.
Unfortunately, Telangana does not rank among the top five or ten in any of these areas, with Tamil Nadu, Gujarat, Maharashtra, Uttar Pradesh, and Karnataka leading the rankings. After evaluating what it would take for Telangana to improve its ranking, we identified six key problem areas: access to infrastructure, finance, skills, raw materials, technology, and market access.