Telangana Aims for $1 Trillion Economy: Sridhar Babu

Hyderabad: Minister for IT and Industries Duddilla Sridhar Babu has informed that the Telangana government has set a target of achieving one trillion dollar economy in the days to come.

During the launch of the new MSME policy at Madhapur here on Wednesday, Sridhar Babu emphasised that Telangana was the first State in the country to introduce MSME policy to encourage industries and the new policy was designed aimed at fostering economic growth within the State.

Citing requests from Congress leader Rahul Gandhi who strongly highlighted the crucial role of MSMEs (Micro, Small, and Medium Enterprises) in creating significant employment opportunities, the Minister stressed the importance of protecting these sectors, especially in light of their potential impact on the economy.

Looking ahead, Sridhar Babu mentioned plans to integrate AI technology into the development of MSMEs.

Furthermore, he insisted that the focus should not only be on large industries, but also on the growth of small and medium enterprises.

"The new policy has been formulated after extensive consultations with industry associations to ensure it meets the needs of the sector effectively," Sridhar Babu said.