D Sridhar Babu, Telangana’s Minister for IT and Industries, stated the state government’s plans to implement a new, ‘friendly’ industrial policy. The decision was announced during a meeting attended by important industry organizations, including FTCCI, FICCI, CII, FSAC, and DICCI.
Minister Sridhar Babu stressed the need for change in the industrial sector and reiterated the government’s commitment to implementing reforms after speaking with stakeholders. He emphasized the historical achievements of Congress-led state governments in boosting industries, encouraging the emergence of various sectors and public-run companies, and creating job opportunities.
Sridhar Babu reiterated the Congress party’s commitment to delivering on its election pledge of creating 2 lakh government jobs, expressing confidence in the creation of a vibrant industrial sector that would greatly contribute to job growth. The policies will be consistent with Chief Minister A. Revanth Reddy’s ‘Mega Master Plan-2050,’ with a focus on developing young industrialists.
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While appreciating Adani Group investments in Telangana, Sridhar Babu highlighted that the government’s invitation to invest was open to all enterprises. He underscored the state’s commitment to growth and assistance for the industrial sector.
Criticizing the previous administration, the minister stated that the current government is committed to improving the state’s financial situation and assisting MSMEs that struggled during the COVID-19 pandemic. The new industrial policy is expected to be developed with the goal of promoting growth and development in Telangana.
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