New policy will focus on MSMEs: Sridhar Babu

We will bring a new industrial policy that will be the best one ever for MSMEs in the country - D Sridhar Babu, Telangana Industries & IT Minister

Policy Push

• Govt invites suggestions from all sectors
• Keen on bridging gaps in demand-supply side
• Focus on defence or aerospace

Hyderabad: The new industry policy, which will support MSME sector growth in Telangana, is in the drafting stage after having received suggestions from all the stakeholders, and will be tabled in the upcoming Budget session, said D Sridhar Babu, Minister for IT & Industries, Telangana.

Speaking to Bizz Buzz on the side lines of the launch of Jeh Aerospace near Hyderabad, D Sridhar Babu that the new industry policy will encourage micro, small and medium enterprises (MSMEs) and small entrepreneurs to set up enterprises.

“We will bring a new industrial policy that will be the best policy ever for MSMEs in the country. We will encourage all MSMEs in the times to come. We will table the policy in the upcoming Budget Session and get the approval. Mostly drafting has also been done,” he confirmed.

Asked about the benchmarks for the new policy being framed, he said, “we would take the good examples of erstwhile government also and implement best practices in the days to come. We do not have ego problem in continuing earlier policies wherever necessary. We are here to develop the State and our primary focus is to make Telangana the best State for investments.”

On a query about where aerospace and defence stands as a priority sector for the government, he said that the policies and objectives of the government should be clear, which can only happen when entrepreneurs from the sector come forward with suggestions. “There is a gap between demand and supply which needs to be filled up. So, the policies and objectives of the government have to top class when it comes to defence or aerospace segment. Wherever there is a gap, we would like to encourage the entrepreneurs to fill it. We will also encourage startups in this space,” he explained.

Emphasizing aerospace and defence as a priority sector for the government, he said that the ecosystem has been built over the last three to four decades, owing to the presence of defence labs in the city.

“We see Hyderabad becoming the capital in aerospace and defence in the times to come as budding entrepreneurs, and startups are keen on setting up ventures in the State and they would like to partner with us and they would like to have an ecosystem which is very encouraging,” the Minister said.