Telangana to Establish Joint Consultative Committee with CII

November 25, 2024

The Telangana government is actively exploring new industrial policies and a joint consultative committee with the Confederation of Indian Industry (CII) is on the horizon. This committee aims to address industrial challenges in the state. Industries and IT Minister D. Sridhar Babu supports this initiative, which plans to establish the committee within a week.

Joint Consultative Committee Formation

The committee will include the Special Chief Secretary for Industries and CII leaders will also participate. This committee mirrors a successful model in Kerala. It will focus on resolving industrial issues effectively.

Global Capability Centres Policy

Telangana will soon unveil a policy for Global Capability Centres (GCC). This initiative aims to position Hyderabad as a prime location for global firms. Key sectors targeted include Life Sciences and banking, financial services, and insurance (BFSI). The policy will enhance the state’s attractiveness to international companies.

In addition to the GCC policy, new IT and industry policies are in the pipeline. These policies aim to stimulate growth and innovation. They will address the evolving needs of the industrial landscape in Telangana.

Industrial Estate Updates

Sridhar Babu discussed the need to update old industrial estates in Hyderabad. He suggested that industries might consider relocating outside the city. The government will provide assistance for this transition. This move aims to modernise industrial operations.

Recent Initiatives by the Government

Since the Congress government took office, several initiatives have been launched. A policy for Micro, Small, and Medium Enterprises (MSMEs) has been introduced. The Young India Skills University was established through a public-private partnership. The government is also focusing on enhancing the food processing industry to support the rural economy.

Important Facts for Exams:
Global Capability Centres (GCC) – GCCs are designed to attract international firms to Hyderabad. They focus on sectors like Life Sciences and BFSI. This initiative enhances regional economic growth.
Micro, Small, and Medium Enterprises (MSMEs): MSMEs play important role in Telangana’s economy. They provide employment and support local entrepreneurship. The government has introduced policies to strengthen this sector.
Youth India Skills University: This university was established through a public-private partnership. It aims to enhance skill development among young people. This initiative addresses the skill gap in various industries.
Confederation of Indian Industry (CII): CII is a prominent industry association in India. It promotes the interests of businesses and encourages industrial development. The organisation collaborates with governments for policy advocacy.

« Previous Post Next Post »