Sridhar Babu asks MSME entrepreneurs to embrace innovation, emerging technologies
Sridhar Babu asks MSME entrepreneurs to embrace innovation and emerging technologies instead of investing exclusively in production
Hyderabad: Industries minister D. Sridhar Babu asked MSME entrepreneurs to move beyond conventional business models of investing exclusively in production and embrace innovation and leverage emerging technologies to optimise production costs and allocate resources strategically for marketing and sales.
Taking part in the "MSME Spark 2.0" conference, being organised by the Federation of Telangana Chambers of Commerce and Industry (FTCCI) in the city, Sridhar Babu said that the industries department, in partnership with FTCCI, would facilitate awareness programmes to educate MSME entrepreneurs on cutting-edge technologies, including artificial intelligence (AI).
The government was committed to clearing the backlog of industrial subsidies pending since 2014. By the end of this month, the government will disburse up to `500 crore to industrialists, Sridhar Babu said.
He said that some individuals for their political gains were spreading false narratives that industries were leaving. The reality was otherwise, he said and noted that under the leadership of Chief Minister Revanth Reddy Telangana had secured investment agreements worth `1.78 lakh crore during this year’s Davos summit.
“As part of our vision to strengthen the Telangana brand on the international stage, we will establish specialized 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,” Sridhar Babu said.
Dr G. Malsur, director, industries, Rajesh Kumar, CGM of the SBI local office; and Suresh Kumar Singhal, president of FTCCI, took part in the meeting.
