Hyderabad: The Telangana government is set to launch a dedicated MSME policy on September 18, 2024, which will feature a Rs 100 crore fund aimed at enhancing technology and manufacturing capabilities for micro, small, and medium enterprises (MSMEs), particularly those in the aerospace and defence sectors.
Jayesh Ranjan, the special chief secretary for IT and industries, noted that this policy has been developed with insights from the state’s long-standing defence and aerospace industry, which faces unique challenges.
He anticipated that approximately 60-70% of the policy’s beneficiaries would come from this sector.
During a defence and space conclave hosted by the Confederation of Indian Industry (CII) Telangana, it was announced that the upcoming MSME policy would likely make Telangana the first state to provide financial support for technology upgrades to companies.
The official emphasized that in addition to this financial assistance, the state government is also focusing on enhancing skills and talent development.
