Telangana govt to clear Rs 500 crore pending industry subsidies by month end; help MSMEs access global markets: Sridhar Babu

HYDERABAD: The Telangana government is committed to systematically clearing the significant backlog of industrial subsidies, which have remained unpaid since 2014, and will be disbursing dues worth Rs 400-500 crore to industry by the end of this month, industries & IT minister Duddilla Sridhar Babu said on Friday.
Speaking at the inaugural of `MSME Spark 2.0’ organized by the Federation of Telangana Chambers of Commerce and Industry (FTCCI), Sridhar Babu after having introduced a dedicated policy framework to foster growth and competitiveness of MSMEs and elevate them to a global standard the government will soon release comprehensive operational guidelines to ensure its effective implementation.
“As part of our vision to strengthen Brand Telangana on the international stage, we will establish specialised MSME clusters. These clusters will be developed in collaboration with industry experts, ensuring they meet global benchmarks and enhance the sector’s overall efficiency and competitiveness,” he said.
“We are determined to resolve the challenges faced by MSME entrepreneurs, particularly in accessing global markets. Recognizing that MSMEs serve as the backbone of our economy, we urge banks to adopt a more facilitative approach in extending financial support. The government will actively intervene to ensure the availability of credit and necessary assistance,” he explained.
He pointed out that the development of MSMEs, which provide employment to a vast segment of the population, has been neglected in the state. “Despite repeated appeals to the previous BRS government, no concrete steps were taken. However, the moment we assumed office, we made MSME growth a top priority, recognizing their crucial role in Telangana’s industrial landscape. Our government is committed to providing unwavering support to this sector,” he said.