Telangana’s New MSME Policy and Young India…

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telangana’s-new-msme-policy-and-young-india…
Telangana’s New MSME Policy and Young India…

Updated: Nov 09, 2024 02:50:37pm

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Telangana’s New MSME Policy and Young India Skills University To Showcases At CS Conference

Hyderabad, Nov 9 (KNN) Telangana’s newly launched MSME policy and the upcoming Young India Skills University (YISU) have been selected to be showcased to Prime Minister Narendra Modi at the forthcoming annual conference of Chief Secretaries, according to Jayesh Ranjan, Telangana’s ITE&C department Special Chief Secretary.

This significant endorsement reflects the state’s progressive efforts in driving manufacturing and workforce development.

Speaking at the Confederation of Indian Industry’s (CII) 20th annual Man’Exe-2024 manufacturing conference, Ranjan highlighted that the MSME policy is distinctive due to its comprehensive approach, addressing longstanding pain points of micro, small, and medium enterprises while incorporating global best practices.

A roadmap is already in place to operationalize the policy, including the identification of new industrial parks and a targeted initiative under the Indira Mahila Shakti program to foster women-led industrial ventures.

The Young India Skills University (YISU) is a pioneering initiative aimed at ensuring industry-relevant skills training, with a unique model that mandates private sector partnership for every course.

Each course is anchored by a private partner to guarantee that a substantial portion of graduates gain direct employment, thereby bridging the gap between training and job placement.

In addition to the MSME focus, Ranjan revealed that the state government is also revisiting policies in high-impact sectors, including life sciences, electronics, electric mobility, and aerospace.

Each sectoral policy aims to incorporate specialized support to cater to unique needs, enhancing Telangana’s appeal as an innovation-friendly hub.

IT and Industries Minister Duddilla Sridhar Babu emphasised the importance of these policies in an era marked by technological disruptions such as artificial intelligence.

“We are creating an ecosystem that prioritises flexibility, scalability, and innovation for manufacturers,” he noted, outlining the government’s collaboration with Tata Group to transform Industrial Training Institutes (ITIs) into cutting-edge training centers.

The event also saw the presentation of the Telangana State Industry Awards 2023 to thirty exemplary companies and industry bodies, a testament to the state’s commitment to industrial excellence and growth.

(KNN Bureau)

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