Telangana CM Revanth Reddy Launches MSME Policy-2024 to Boost Industrial Growth

Hyderabad: Telangana Chief Minister Revanth Reddy explained the importance of strengthening Micro, Small, and Medium Enterprises (MSMEs) in the state, stating that the success of industries is essential for the economic growth of Telangana. At a recent event, he highlighted the launch of the MSME Policy-2024, which aims to foster the development of small and medium businesses.

“Our government is fully committed to supporting industries, and without a strong policy, no sector can thrive. That's why we’ve introduced this MSME-specific policy, ensuring full cooperation from the government,” the CM said. He added that strengthening MSMEs will create more job and employment opportunities in the state.

Looking ahead, CM Revanth Reddy expressed confidence that Telangana’s budget would grow from ₹3 lakh crore to ₹7 lakh crore by 2028, with the MSME sector playing a crucial role in achieving this goal. He also called for the active participation of MSMEs in realizing the state's vision of becoming a trillion-dollar economy.

At the event, Deputy Chief Minister Mallu Bhatti Vikramarka and Industries and IT Minister Duddilla Sridhar Babu reaffirmed the government’s commitment to continuing industrial incentives and clearing pending subsidies. The CM also pointed out the need to encourage Dalit and tribal entrepreneurs by providing land, subsidies, and other benefits, such as electricity, to help them grow financially.

He further spoke about the state's comprehensive development plans, including the design of Future City, connecting the Outer Ring Road (ORR) and Regional Ring Road (RRR) with radial roads to attract investment. CM Revanth Reddy highlighted Telangana’s favourable conditions for investment, stating that several countries are adopting the China Plus One strategy, and Telangana is a prime alternative for global investments.

The government, he noted, remains open to suggestions from all stakeholders and is committed to inclusive governance aimed at ensuring the state's economic prosperity.