Hyderabad, Sep 18 (Reporter) Telangana Chief Minister A Revanth Reddy launched a dedicated Micro, Small and Medium Enterprises (MSME) policy 2024 here on Wednesday. The policy through a Rs 100 crore ‘Yantram fund’ would help MSMEs make that transition from old-age technology to new-age. To ensure effective and efficient implementation of the policy, launched for the first time in the state, the government proposes to establish an MSME wing to provide 24/7 dedicated support to MSMEs in the state. A high-level steering committee will be established under the state leadership to monitor delivery on commitments and set policy direction. The government has earmarked Rs 600 crore over the next five years to support these initiatives for MSMEs. “I am happy that the new government in Telangana introduced a dedicated policy for MSMEs which also happen to be one of the earliest policy reforms that we are introducing, Reddy said on occasion. Apart from setting right some of the imbalances that the MSMEs have been facing in the last decade or so, this policy also provides some novel initiatives which will help MSMEs become world class performers, the CM said. He expressed that the MSMEs based in Telangana should make full use of this opportunity which is provided by the government”. Speaking on the occasion, state Industries Minister D Sridhar Babu said keeping in view their unique requirement; we have designed the first MSME policy for the state. The policy framework has identified current challenges faced by SMEs in access to land, finance, raw materials, labour, technology and markets in consultation with the local industry stakeholders, the Minister said Innovative solutions have been identified for addressing each of these issues either through fiscal or non fiscal measures. The policy has focused on supporting MSMEs through their entire lifecycle right from the set-up phase to growth and expansion. We also ensured that the development reaches all parts of the state and marginalized sectors like SC/ST community and women entrepreneurs. The industrial sector in Telangana needs to embrace industry 4.0 for staying relevant and globally competitive. We will develop industrial parks across all the districts in Telangana for a uniform industrial growth in the state and also develop dedicated parks for MSMEs , women entrepreneurs and innovative start-ups. Government will develop flatted factories with in-built facilities for women. Entrepreneurs across all the 119 constituencies in the state encourage women members of SHGs to transition to MSMEs. The various policy measures are a step in the right direction to ensure that the untapped potential of MSMEs is properly harnessed and their resources are utilized for creating wealth for industry as well as the state, Babu said. The Minister urged the Industries and Commerce department to conduct awareness sessions among all industry associations so that the policy benefits reach the target audience. “I thank prosperity groups for their expert guidance and untiring support during the policy development process”, he said. 'I am sure this policy will unlock the growth potential of our industrial sector, create more employment for the youth and increase productivity among MSMEs, he added. According to official statistics, there are 26 lakh MSMEs in Telangana. Of them 66 percent are in urban areas and 44 percent in rural areas. After formation of Telangana in 2014, as many as 19,954 MSME units have been registered, with an investment of about Rs 31,023 crore. The employment generated by MSMEs in Telangana is about 3,36,488...////...