Hyderabad: Telangana State, which has several innovative and path-breaking schemes and policies under its belt in the past six years, has now been cited as a model for start-ups in the country by the Reserve Bank of India-appointed U K Sinha Committee on ‘Micro, Small and Medium Enterprise.’
The expert committee, in its report, said: “Telangana has adopted an innovative model for startups which may be assessed for possible replication in other States.” The committee explained the Telangana start-up model in detail in its report, and in their recommendations, suggested that all States replicate the Telangana Model.
The RBI had constituted this panel under the Chairmanship of Former SEBI Chairman UK Sinha. The committee submitted its report to RBI Governor in June 2019.
Union Minister Nitin Gadkari had this week stated that the Union Government would consider the recommendations of the UK Sinha committee report soon. The committee, under Sinha’s chairmanship, interacted with various stakeholders across the country and international experts as well before submitting the report. The committee also deliberated on all aspects relating to startups in India.
The panel has also been asked to propose measures for leveraging technology in accelerating growth of the sector and suggest long-term solutions for the economic and financial sustainability of the MSME sector.
Telangana has always believed in being a role model for others in the startup industry. In fact, former IT and Industries Minister and TRS working president K T Rama Rao has often used the tagline: “‘What Telangana does today, the nation does it tomorrow.”